31 October 2013 05:56 [Source: ICIS news]
SINGAPORE (ICIS)--October caprolactam (capro) contract prices were settled at $2,410-2,430/tonne (€1,759-1,774/tonne), up by $30-40/tonne from September on the back of tight supply, major buyers and sellers said on Thursday.
The price is on a cost-&-freight (CFR) NE (northeast) Asia basis.
Regional supply is tight amid scheduled annual maintenance at key capro facilities.
Japanese and European producers were initially targeting $2,430-2,500/tonne CFR NE Asia for October cargoes but had to settle at lower prices because of buyers’ resistance.
Capro buyers are having difficulty raising product prices in the downstream nylon chips and yarn segments.
Nylon chips must be priced at least $300/tonne higher than capro for nylon chips producers to generate margin, industry sources said.
Over the past three weeks, nylon chip prices have stagnated at $2,690-2,720/tonne CFR China, according to ICIS.
($1 = €0.73)
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