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Editor Loh Bohan, bohan.loh@icis.com
NOTE: For full details on the criteria ICIS pricing uses in making these price assessments visit www.icispricing.com and click on “methodology”.
Market Summary
Prices of spot Asian nylon chips were assessed stable for the week ending Tuesday after the previous week’s $50-70/tonne hike in values.
Spot CPL values were reported to have jumped nearly $100/tonne and hovering just below the $2,500/tonne CFR China mark by the close of business on Tuesday. Upstream benzene prices, however, fell $40/tonne and were around $905/tonne FOB Korea.
Most market players had attributed last week’s $50-70/tonne hike in prices for March parcel to brisk buying interest among end-users after returning from the Chinese New Year holidays.
They added that further hikes in nylon chip price could be necessary over the next few weeks if CPL costs continued to hover in the high $2,400s/tonne range.
Nylon Chips
Spot nylon chip prices were assessed stable for the week ending Tuesday at $2,670-2,700/tonne CFR China following last week’s $50-70/tonne jump in values.
Several parcels were reported to have changed hands at $2,670-2,700/tonne CFR China.
In the Chinese domestic market, nylon chip prices were CNY200/tonne firmer on the low-end at CNY22,500-23,300/tonne ex-works for the high speed spinning grade.
Prices for the normal spinning grade gained CNY500-600/tonne during the week to CNY22,000-22,500/tonne ex-works.
Nylon 6 Fully Drawn Yarn (FDY)
Prices of nylon 6,70 denier, 100 denier and 40 denier FDY grades were range-bound following last week’s $0.02-0.03/kg hikes in values.
In the Chinese domestic market, discussions for 12 filament/40 denier nylon 6 FDY jumped another yuan(CNY) 300/tonne to CNY27,400/tonne ex-works.
Discussions for 24 filament/70 denier and 36 filament/100 denier were also heard CNY300/tonne higher at CNY25,800/tonne ex-works and CNY25,700/tonne ex-works respectively.
Nylon 6 Partially Orientated Yarn (POY)
Prices of nylon 6 POY were assessed $0.03/kg higher for the week ending Tuesday after regional producers hiked offer in light of higher feedstock CPL prices.
Prices of the 80 denier and 120 denier grades were assessed at $2.86-2.91/kg and $2.83-2.88/kg on an FOB basis respectively reflecting deals, bids/offers and discussion levels.
In the Chinese domestic market, discussions for both grades were reported CNY400/tonne higher at CNY24,700/tonne ex-works.
Industrial Grades
Nylon 6, tire cord and nylon 6,6 industrial grade prices were notionally assessed $0.03/kg higher for the week ending Tuesday in tandem with higher regional prices.
($1 = CNY6.83)
This week in ICIS news ( www.icis.com):
02-Mar-10 11:36 EU chemical industry producer prices rise 1.5% in January
02-Mar-10 10:00 Reliance to pursue targets if LyondellBasell bid fails - analysts
02-Mar-10 09:46 Russia's January plastics and resins output rises 20.9%
02-Mar-10 09:35 FocusLabour shortages in China to curb demand for styrenic resins
02-Mar-10 08:48 Nufarm shareholders approve Sumitomo Chemical’s 20% stake
