CPL & Nylon 6 Chip Market Morning Express (Dec 27, 2010)

CPL
USD spot market is firm. Few offers are heard. Buyers and sellers generally talk directly. Discussions are at around $2900/mt. Sellers are still a little reluctant to sell while the buyers are also cautious under pressure from demand.

On RMB spot market, few offers are heard. A few traders bid at around 23800yuan/mt while the bids of downstream plants are slightly lower. Discussions are to 23800-2400yuan/mt.

Nylon 6 chips
Higher-grade high speed spinning chips are offered at 26800-27000yuan/mt by credit and new deals required at above 26500yuan/mt.

In Mid China, high speed spinning chips and semi-dull conventional spinning chips are offered at 25300yuan/mt with bright conventional spinning chips at 25000yuan/mt, ex-works. O/R stabilizes at slightly above 90%.

In Hebei, conventional spinning chips are offered at 25200yuan/mt with balanced sales ratio. Plants report no inventory pressure and run at full capacity.

$1=CNY6.63

source:CCFGroup.com