- Producers reduce offer prices- A weak nylon demand weighs down on sentiment



In the week ending July 28, Asian
caprolactam markets continued to be under pressure due to weak fundamentals.
Some sellers attempted to reduce prices to increase demand. CFR Far East Asia
caprolactam prices and CFR Southeast Asia caprolactam physical prices were
$2,010-2,040/mt & $2,020-2,050/mt respectively. Both fell more than $100-120/mt
week-on-week. A buying indication was
heard between $2,000 and $2,050/mt. While a selling indication was reported at
$1,970-2,000/mt. Sources claimed that
offers hearing below $2,000-2,030/mt the week before had prompted producers to
mark prices down. China was experiencing
the same situation, with local caprolactam manufacturers facing lower profit
margins due to slower nylon demand and lower run rates in its textile industry. FOB Korea, benzene physical was $1,085-1,100/mt as of July
28. The...