CPL & Nylon 6 Chip Market Morning Express (Nov 9, 2010)

CPL
On China USD spot market, sellers are holding cargoes or quoting high. Higher offers are to $2880/mt and bids are mostly at around $2800/mt. Most cargoes are bought by traders. Not many downstream plants are buying.

RMB spot market climbs upward. Downstream plants increase purchasing on RMB market. Inquiry is still active. Offers are mostly to 23500yuan/mt and sellers are reluctant to sell at low levels. Buy ideas are mostly at 23100-23200yuan/mt.

Nylon 6 chips
Nylon 6 chip market continues moving up, conventional spinning chips at 24800yuan/mt, ex-works and high speed spinning chips at 25000-25500yuan/mt by cash or acceptance, ex-works with some higher at 25800yuan/mt. In South China, high speed spinning chips are offered at 26000yuan/mt. In East China, offers for higher-quality high speed spinning chips are mixed. Bright conventional spinning chips climb up to 24800yuan/mt, ex-works and producers hold tight to their goods.

($1=CNY 6.66)

source:CCFGroup.com