Sinopec settles May capro contracts higher by CNY200/tonne

23 May 2014 05:15 Source:ICIS News

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

By Daphne Ho