CPL & Nylon 6 Chip Market Morning Express (Nov 10, 2010)

CPL
On China USD spot market, sellers are mostly holding cargoes in hand or quoting high. Downstream plants are still a little cautious about buying. Not many discussions are heard. Yesterday, the traded prices were at $2850-2870/mt, to traders and downstream plants.

On RMB spot market, the offers are at 23800yuan/mt in the morning. Downstream plants are a little cautious about buying. Discussions are at 23500-23800yuan/mt. It is hard to source cargoes at low levels.

Nylon 6 chips
Nylon 6 chip prices move up apparently, conventional spinning chips at 25000-25500yuan/mt and high speed spinning chips at 25500-26000yuan/mt. In East China, bright conventional spinning chips are offered at 25500yuan/mt, ex-works and semi-dull chips at 25700yuan/mt. In Mid China, staple fiber, monofilament and film conventional spinning chips are offered at 25200-25500yuan/mt by acceptance or cash, ex-works. In East China, higher-quality high speed spinning chips are offered at 26000yuan/mt by acceptance and medium-grade cargos at 25500yuan/mt.

($1=CNY 6.65)

source:CCFGroup.com