The current caprolactam (CPL) market sentiment slightly improved, and the price of goods held by shippers was mostly at 28,500 yuan (t price, same below) and above. Buyers' inquiries improved over the previous period, with reference to negotiation prices at 28,400 to 28,500 yuan. Reduced. The author believes that under the favorable support of the Japan earthquake and China's anti-dumping, the CPL market is still climbing up slightly. The main influencing factors are as follows:
One is the earthquake in Japan. In Japan, there are currently four CPL manufacturing companies of Ube, Sumitomo, Mitsubishi, and Toray. The four companies are located far from the earthquake area and the earthquake did not directly affect their production. However, the Japanese earthquake caused damage to its upstream raw material production, coupled with the lack of electricity supply, the latter production may be subject to certain restrictions.
At present, Sumitomo has decided to reduce its two production lines with annual capacity of 85,000 tons and 95,000 tons to 70% to 80%. The company also decided to close its 85,000 tons/year production line this weekend. Ube Hyundai's 95,000-ton/year CPL unit in Sakai will be shut down and repaired as planned in the middle of this month. The maintenance will take about one month. Japan Toray's 100,000-ton/year CPL unit in Tokai was later cut in production due to shortage of raw materials, and production cuts are not yet clear. China's mainland and Taiwan have imported large quantities of CPL from Japan. After the earthquake, sources in Taiwan have been tightened. The contract volume is expected to decrease in April. It is reported that Taiwan's downstream nylon manufacturers have rushed to purchase caprolactam from the spot market. The price in the region is now rising. The mainland market has been promoted, but whether the market can effectively rise depends on the downstream cooperation. In addition, once Japan's post-disaster reconstruction, demand for infrastructure and raw materials resumes, commodity support is re-established.
On the whole, the strong earthquakes in Japan have tightened the market supply to a certain extent and provided speculation factors. However, the rising prices still need to see the cooperation of the downstream industries. The impact of the big environment should not be underestimated. It is recommended that market participants be cautious.
The second is anti-dumping. On January 24, the Ministry of Commerce issued a preliminary ruling on anti-dumping investigations on imported CPL originating in the European Union and the United States, and decided to impose 4.3% on CPLs imported from the European Union and the United States as of January 25, 2011. -25.5% margin, which is the anti-dumping of major raw materials in the polyamide industry following adipic acid, nylon 66 chips, and nylon 6 chips in recent years. The anti-dumping measures are obviously beneficial to the development of domestic caprolactam industry, but domestic nylon 6 and related industries will face the challenge of insufficient raw materials in the short term.
The third is pulling outside the disk. Because Honeywell's 375,000 tons/year CPL plant has been cut down due to the supply of raw material phenol, it will resume in early May. The Japanese Sumitomo device will be parked in the latter part of the period. Affected by the news, the US dollar holders of the market went up to 3,580-3,600 U.S. dollars. The buyer's inquiry was slightly active, but the offer remained cautious. The reference price was 3560-3580 U.S. dollars. Support the domestic CPL market.
Fourth, the upstream raw material market has risen slightly. In the Asian ** market, the cargo delivery price was $1,175 (FOB, South Korea) in late April, and the cargo delivery price was $1185 (FOB, South Korea) in May. The price was slightly higher than before.
In short, the CPL dollar market was supported by a series of device production cuts, and the price has moved up. The *** market has maintained consolidation, but the supply of low-priced goods has also decreased. Currently, there is not much supply in the market and it still supports the mentality of participants. However, the production and sales of downstream plants were poor, and they were still cautious on high-priced orders. The transactions were mostly traders to traders.
One is the earthquake in Japan. In Japan, there are currently four CPL manufacturing companies of Ube, Sumitomo, Mitsubishi, and Toray. The four companies are located far from the earthquake area and the earthquake did not directly affect their production. However, the Japanese earthquake caused damage to its upstream raw material production, coupled with the lack of electricity supply, the latter production may be subject to certain restrictions.
At present, Sumitomo has decided to reduce its two production lines with annual capacity of 85,000 tons and 95,000 tons to 70% to 80%. The company also decided to close its 85,000 tons/year production line this weekend. Ube Hyundai's 95,000-ton/year CPL unit in Sakai will be shut down and repaired as planned in the middle of this month. The maintenance will take about one month. Japan Toray's 100,000-ton/year CPL unit in Tokai was later cut in production due to shortage of raw materials, and production cuts are not yet clear. China's mainland and Taiwan have imported large quantities of CPL from Japan. After the earthquake, sources in Taiwan have been tightened. The contract volume is expected to decrease in April. It is reported that Taiwan's downstream nylon manufacturers have rushed to purchase caprolactam from the spot market. The price in the region is now rising. The mainland market has been promoted, but whether the market can effectively rise depends on the downstream cooperation. In addition, once Japan's post-disaster reconstruction, demand for infrastructure and raw materials resumes, commodity support is re-established.
On the whole, the strong earthquakes in Japan have tightened the market supply to a certain extent and provided speculation factors. However, the rising prices still need to see the cooperation of the downstream industries. The impact of the big environment should not be underestimated. It is recommended that market participants be cautious.
The second is anti-dumping. On January 24, the Ministry of Commerce issued a preliminary ruling on anti-dumping investigations on imported CPL originating in the European Union and the United States, and decided to impose 4.3% on CPLs imported from the European Union and the United States as of January 25, 2011. -25.5% margin, which is the anti-dumping of major raw materials in the polyamide industry following adipic acid, nylon 66 chips, and nylon 6 chips in recent years. The anti-dumping measures are obviously beneficial to the development of domestic caprolactam industry, but domestic nylon 6 and related industries will face the challenge of insufficient raw materials in the short term.
The third is pulling outside the disk. Because Honeywell's 375,000 tons/year CPL plant has been cut down due to the supply of raw material phenol, it will resume in early May. The Japanese Sumitomo device will be parked in the latter part of the period. Affected by the news, the US dollar holders of the market went up to 3,580-3,600 U.S. dollars. The buyer's inquiry was slightly active, but the offer remained cautious. The reference price was 3560-3580 U.S. dollars. Support the domestic CPL market.
Fourth, the upstream raw material market has risen slightly. In the Asian ** market, the cargo delivery price was $1,175 (FOB, South Korea) in late April, and the cargo delivery price was $1185 (FOB, South Korea) in May. The price was slightly higher than before.
In short, the CPL dollar market was supported by a series of device production cuts, and the price has moved up. The *** market has maintained consolidation, but the supply of low-priced goods has also decreased. Currently, there is not much supply in the market and it still supports the mentality of participants. However, the production and sales of downstream plants were poor, and they were still cautious on high-priced orders. The transactions were mostly traders to traders.
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