26 March 2014 09:51 [Source: ICIS news]
SINGAPORE (ICIS)--China’s DSM Nanjing Dongfang has settled its domestic March caprolactam (capro) contract price at yuan (CNY) 16,500/tonne ($2,661/tonne), LC 90 days, for flaked material, according to company officials on Wednesday.
The settlement on a EXW (ex-works) basis was CNY1,500/tonne lower compared with its February contract price. The March contract price was nominated at CNY18,000/tonne EXW earlier in the month.
Earlier this week on 24 March, Sinopec released their March contract settlement price at CNY16,200/tonne EXW, LC 90 days, for molten material.
The settlement price was also CNY1,500/tonne lower than its February contract price.
Sinopec’s initial list price was at CNY17,500/tonne EXW, and it reduced its nomination price two times during the month.
The price was first lowered by CNY600/tonne to CNY16,900/tonne EXW, before a further cut of CNY500/tonne to CNY16,400/tonne EXW.
Additional reporting by Shi Huan($1 = CNY6.20)
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