CPL & Nylon 6 Chip Market Morning Express (Nov 24, 2010)

CPL
USD spot market holds steady in the morning. Offers are at $2800-2820/mt. Some sell ideas are to $2800/mt, for floating cargoes and warehouse cargoes, but downstream plant prefer to sideline. Few discussions are heard. Yesterday, a few deals were done at $2780-2785/mt.

On RMB market, Sinopec settles its Nov CPL contracts at 23400yuan/mt, ex-works, by cash, up 850yuan/mt from its Oct settlement price.

Nylon 6 chips
Conventional spinning chips prevail at 25500-25800yuan/mt with flat trading sentiment. Downstream adopt a wait-and-see attitude and purchase on a need-to basis.

($1=CNY 6.66)

source:CCFGroup