SINGAPORE (ICIS)--China’s Sinopec has settled its May caprolactam (capro) contracts at yuan (CNY) 16,750/tonne ($2,689/tonne), an increase of CNY200/tonne from April’s contract settlement price, a company source said on Friday.
The settlement price on an EXW (ex-works) basis was CNY250/tonne lower than its revised nomination at CNY17,000/tonne EXW.
Earlier in the month, the company raised its May nomination price by CNY200/tonne from CNY16,800/tonne EXW.
Sinopec supplies molten capro materials to the domestic market on an LC 90 days basis.
($1 = CNY6.23)
Additional reporting by Shi Huan