According to Fibre2Fashion’s market insight tool TexPro, nylon chips (imported HS chip) is currently priced at $2252.16 per ton in Asian market which can improve to $2308.46 per ton. It may further go up to $2336.62 per ton in October 2022. Nylon filament yarn (FDY 70D/24F) may touch $2.73 per kg in Asian market. The price is ruling at $2.68 per ton in this month and it may reach $2.72 per kg.

As per market information from TexPro, the prices of caprolactam, a raw material of nylon, are likely to bottom out in the coming weeks as Ube Industries is set to shut plant for maintenance in mid-September. Another company, Hubei Sanning Chemical, has already shut its plant in the beginning of this month. Both companies are the major producer of the raw material. Caprolactam noted downward trend in last fortnight and was quoted at $1,760-1,770 per ton in Asian market.

Benzene prices decreased on the back of dull buying sentiments during the last fortnight. A fall in downstream SM rates further pressured prices down in Asia. Benzene prices in Korea were quoted $990-1,000 per ton during the last fortnight.

In Southeast Asia, nylon chips prices fell due to sluggish demand and lower upstream energy value during the last fortnight. The prices were noted between $2,220-2,230 per ton in Southeast Asia. “Nylon chips may continue downward trend in short term,” according to TexPro.

As per the report, nylon filament yarn prices declined in Asia due to higher inventory pressure and weak demand. The average prices of the product were registered at $2.50-2.60 per kg on FOB basis in Northeast Asian market. “It may remain under pressure for now,” as per TexPro.

Fibre2Fashion News Desk (KUL)