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

CPL
USD spot CPL market remains in stalemate. Most sellers are holding cargoes and the sell ideas are at above $2900/mt. Buy ideas of downstream plants are still below $2880/mt. Bids of a few traders are slightly higher. As the sellers are reluctant to sell at low levels while the buyers are hesitating at the higher prices, fewer deals are done recently. Deals heard are at $2880-2900/mt.

RMB spot prices follow up slightly. Sell ideas are mostly at above 23700yuan/mt, against discussions at 23600-23700yuan/mt.

Nylon 6 chips
In North China, high speed spinning chip offers move up to 25800yuan/mt by acceptance, delivered but trading prices remain at 25600yuan/mt. Besides, trading prices of high-viscosity conventional spinning chips inch up to 25000-25200yuan/mt by acceptance, delivered and previous prices lower than 25000yuan/mt fade out.

In East China, a few plants revise conventional chip prices up by 100-200yuan/mt. New orders of bright staple fiber and monofilament chips are required at 25200-25300yuan/mt. Producers hold tight to their good, reluctant to sell at lower prices. Fish net chips are at 25000yuan/mt or slightly above.

($1=CNY 6.64)

source:CCFGroup.com