Asian caprolactam - Sentiment declines due to low demand# Buyer-seller negotiations fail# Benzene feedstock price surgesSellers 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/mt, but market sources indicated that spot prices were lower. FOB Korea benzene physical rose for the second consecutive
session to $1.222.33/mt-$1.250.55/mt on May 12 This was the highest level since March 9, when the price
reached $1,286.67/mt- $1,290.75/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-$2,180/mt,...