Views:3 Author:Site Editor Publish Time: 2020-05-27 Origin:Site
I. Nylon 6 HS and CS chip market in diverged trends in April
1. In early April, a round of intensive bottom hunting in nylon 6 CS chip market had driven prices higher quickly. And in the process of rapid rise, there were still buying orders that continued to chase highs. CS chip market rose sharply all the way, up by 1,500yuan/mt in just 10 days. Following this, CS chip plants replenished CPL spot aggressively, pushing up CPL spot substantially as well.
2. In early April, under the favorable support of the soaring crude oil and CS chip prices, the spot and contract CPL prices gradually increased. Due to cost pressures, sellers also increased semi-dull HS chip prices appropriately. But downstream buyers followed up slowly. Since the uptrend almost ended around Apr 12, spot CPL market also slowed down rising up.
3. Starting from April 10th, demand for mask ear strap applied DTY product surged, and prices jumped up significantly by 4,000-5,000yuan/mt. Supported by the strong momentum, HS chip sellers increased their offers by 1,000-1,500yuan/mt, and uplifted run rate as the same time thus raised the consumption of CPL. As a result, spot of CPL was further pushed up by 500-600yuan/mt.