Review: The benzene market increased stably this week. Sinopec raised posted prices by RMB 100/mt to RMB 6,200/mt. The dealing prices followed up. The increasing benzene market supported the caprolactam (CPL) market. However, as the supply was ample in the market, downstream users were bearish about the CPL market. Sinopec’s settlement prices for CPL were RMB 14,800/mt, which were lower than the posted prices. Players were not confident. The delivered prices for liquid CPL in East China were in the range of RMB 14,000-14,200/mt bu acceptance. Traders’ offers for solid CPL were in the range of RMB 15,000-15,500/mt in cash.
Forecast: After the increases in benzene market, the dealing prices are hovering at highs, which supports the CPL’s production cost. The overall supply is not high and the demand for CPL may increase. It is predicted that the CPL market may see mild declines.
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