China’s Sinopec rolls over CNY18,100/tonne for Jan capro contract

27 January 2014 02:32 Source:ICIS News

SINGAPORE (ICIS)--China’s Sinopec has rolled over yuan (CNY) 18,100/tonne ($2,992/tonne) as its January caprolactam (capro) contract price, despite higher cost of feedstock benzene from the previous month, a company source said on Sunday.

Benzene prices increased by CNY253 to CNY9,500/tonne in January compared with December's level, the source said, demand for capro was steady.

Spot domestic capro prices were at CNY17,300-17,800/tonne DEL (delivered) east China in on 27 January, down by CNY100/tonne at the low end compared with levels early this month, according to Chemease, an ICIS service in China.

Market players are expecting market conditions to improve in February.

($1 = CNY 6.05)

By Huan Shi