CPL & Nylon 6 Chip Market Morning Express (Dec 16, 2010)

CPL
USD spot market remains firm. Most sellers still hold cargoes in hand, waiting. Few are quoting initiatively. Sell ideas are at $2860-2870/mt. It is hard for downstream plants to accept the prices, but it is also difficult for them to source low-priced cargoes.

On RMB spot market, the offers maintain at 23500yuan/mt, against discussions at 23300-23400yuan/mt. Sales are thin in the morning.

Nylon 6 chips
Higher-grade high speed spinning chips are offered at 26800-27000yuan/mt and traded at 26500yuan/mt by acceptance. Taiwan-origin high speed spinning chip offers keep stable, semi-dull at $3130-3150/mt and dull chips at $3200-3230/mt. Trading volume was limited and O/R in chip plants is at 73%.

Bright medium-viscosity conventional spinning chips are traded at 25000-25200yuan/mt with a few brands at lower rates.

($1=CNY 6.66)

source:CCFGroup.com