- Failure of buyer-seller negotiations- Benzene feedstock price surges



Sellers and buyers failed to come to an agreement over
prices in large part due to rising feedstock costs, and low demand. This led to
a slowdown in the Asian caprolactam markets on May 12. Participants pointed out
trade indications of around $2,140-2,170/mt on May 12, based on the May-listed price. Two Chinese producers raised their prices slightly to Yuan
14,800-15,200/mt, but market sources indicated that spot prices were lower. FOB Korea benzene physical rose for the second consecutive
session to $1,220/mt-$1,240/mt on May 12 This
was the highest level since March 9, when the price reached $1,285/mt-$1,290/mt. Sources indicated that the gap between Northeast Asia
caprolactam and Southeast Asia would likely narrow. CFR Far East Asia caprolactam was $2,170/mt-$2,185/mt, CFR
Southeast Asia caprolactam $2,220/mt-$2,250/mt May 12.