07 November 2013 10:23 [Source: ICIS news]
SINGAPORE (ICIS)--Spot caprolactam (capro) prices in Asia fell for the third consecutive week, in line with declining values of feedstock benzene, and amid ample regional supply, industry sources said on Thursday.
On 6 November, capro was assessed at $2,300-2,340/tonne (€1,702-1,732/tonne) CFR (cost and freight) NE (northeast) Asia, down by an average of $82.50/tonne or 3.4% from 16 October, according to ICIS data.
China and Taiwan are key capro markets in Asia.
Falling benzene prices provided the impetus for capro prices to weaken.On 1 November, benzene was assessed at $1,225-1,235/tonne FOB (free on board) Korea, down by an average of $60/tonne from 11 October, ICIS data showed.
Late in the third quarter, tight supply had steadily pushed capro prices higher in spite of weakness in the downstream sector.
Supply conditions changed in mid-October as a number of capro plants in China recovered from mechanical problems that previously disrupted production, and as Luxi Chemical’s new 100,000 tonne/year plant started up.
($1 = €0.74)
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