Singapore — Taiwan’s China Petrochemical Development Corp. has settled its July caprolactam contract price at $2,135/mt CFR Far East Asia, a source close to the company said Thursday.
“Demand for caprolactam typically dips in the third quarter, coinciding with the Asian nylon industry entering the off-peak season, but this year the seasonal effect has been less prominent,” a Northeast Asia end-user said Thursday.
“In addition, East China plants’ operating rates have been lower over the past week, largely due to environmental restrictions on specific plants in Jiangsu and Shandong regions, causing spot supply to tighten,” a producer said.
Asian spot caprolactam was assessed at $2,130/mt CFR FEA last Thursday, up $10/mt from the previous week.
–Frank Zeng, [email protected]
–Edited by E Shailaja Nair, [email protected]
Source: S&P Global Platts