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8th January 2014
Caprolactam (Asia Pacific) Editor Daphne Ho,
[email protected]
Click for Price History CFR N.E.ASIA CFR CHINA CFR TAIWAN
USD/TONNE
USD/TONNE USD/TONNE USD/TONNE
CONTRACT PRICES Price Range n/c 2340-2360
-10 -10 n/c
SPOT PRICES Price Range 2330-2350 2330-2350 2340-2350
-15
One year ago 2330-2360
US CTS/LB 106.14-107.05
n/c n/c n/c
Four weeks ago 2300-2340 2300-2330 2300-2340
US CTS/LB 105.69-106.59 105.69-106.59 106.14-106.59
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Click for Price History CFR N.E.ASIA DEC
NOTE: for full details on the criteria ICIS pricing uses in making these price assessments visit www.icispricing.com and click on “methodology”. Market participants said that they needed more time to observe the upstream benzene and downstream nylon chips, fibre and textile sectors before making decisions, following the resumption of trading activities from the New Year holidays.
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Subscriber note: The deltas in the Caprolactam (Asia) weekly report dated 8 January 2014 reflect changes from 18 December as 25 December and 1 January were both non-publishing days. For more information, please check the publishing schedule at www.icispricing.com. Asian capro spot prices stable-to-soft on soft upstream markets Asia's caprolactam (capro) spot prices were stable-to-soft to reflect lower-priced cargoes sold, tracing a downtrend in benzene and crude markets.
However, most players think that there will be limited upturn in trading pace until after Lunar New Year holidays. Spot benzene prices were at $1,341-1,358/tonne FOB Korea on 3 January. Spot
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Spot prices on a CFR China basis softened by $10/tonne at the low end of the range to reflect deals concluded.
The capro spot market began on a slow note with key spot producers in the Commonwealth of Independent States (CIS) region still away for the New Year holidays until 8 January. Meanwhile, traders in the region were holding on to lower inventories as they took a cautious stance on their purchases on the back of rising spot prices in December.
During the week, there were few buyers in China and Taiwan seeking cargoes as most of them were covered until midFebruary. .
Producers and buyers were said to have traded January loading parcels at $2,330/tonne CFR China for European materials. Sporadic offers were at $2,350/tonne CFR China for February lifting, largely unchanged from previous weeks. Prices in China are discussed on an LC 90 day basis. For the Taiwanese market, trades and negotiations were subdued. Offers were posted at around $2,360/tonne CFR Taiwan on an LC 90 day basis, however buying interest was limited and no deals were heard concluded during the week. The domestic prices in eastern China were at yuan (CNY) 16,800-17,800/tonne EXWH. Trading activities were moderate with buyers having sufficient stock at their inventories. Contract Fresh offers for January contract negotiations were quoted at $2,430-2,480/tonne CFR NE Asia, for Japanese and European origin materials.
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Caprolactam (Asia Pacific) Page 2 of 2 Major buyers in Taiwan and China were reserved on making price indications for January contract negotiations as they have yet to begin negotiations and have not received clear responses from upstream and downstream markets.
The average operating rate of nylon chip plants in China was maintained at 80-90% capacity for major producers and at 7080% for the smaller plants.
Meanwhile, in China, DSM Nanjing and Sinopec's January contract list prices were rolled over from December's list prices. DSM quoted at CNY18,700/tonne EXWH, while SInopec's prices were at CNY18,400/tonne EXWH.
Production news
The prices of textile-grade, semi-dull nylon chips increased by $10/tonne to $2,660-2,680/tonne CFR China in the week ended 7 January. The average plant operating rate for nylon chips in the Taiwanese market was unchanged at 80% capacity in the week.
Taiwan’s China Petrochemical Development Corporation has shut its 200,000 tonne/year Xiaogang plant on 6 January for two weeks.
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Downstream
BASF’s plant at Ludwigshafen, Germany, is currently operating at reduced rates because of production problems since the final week of December. The affected capacity was not revealed. The company has a total combined capacity of 500,000 tonnes/year at their Ludwigshafen and Antwerp plants.
($1 = CNY6.05)
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