13 November 2013 17:52 [Source: ICIS news]
LONDON (ICIS)--European caprolactam (capro) November contract prices are widely expected to fall because of a €78/tonne ($105/tonne) reduction in the upstream benzene November contract price, buyers and sellers said on Wednesday.
Contract negotiations are at an early stage and although contract partners agree that prices will fall, the extent of any reduction remains under discussion.Capro buyers are targeting November contract price falls of up to the full reduction of the November benzene contract price.
Capro producers are aiming to limit price falls to around half of the benzene cost fall.
Nevertheless, one producer said that it may be forced to give away closer to 60% of the cost pass-through because of forecasts of similar price falls in the downstream nylon 6 market.
($1 = €0.74)
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