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Insight | Time:Jan 4 2018 2:20PM
Contract prices for nylon 6 HS chips reached with various rebates
 
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Some nylon 6 HS chip plants offered for 2018 contract cargos in end-Nov and early-Dec, 2017. Due to rising offers and large chip capacity expansion in 2018, nylon 6 textile filament plants showed resistance and stayed on the sidelines, so discussions were delayed. In mid-Dec, Yueyang Petrochemical offered for contract nylon 6 semi-dull HS chips low at 1,800yuan/mt plus Sinopec’s monthly settlement for CPL, and the contract price was concluded. Then, contract prices of some other chip plants were also concluded. The prices were similar after rebating, but the rebates were various.

By end-Dec, contract prices of nylon 6 dull HS chips were discussed smoothly, and Hengyi, Jinjiang and Juheshun’s contract prices were concluded. For nylon 6 semi-dull HS chips, Hengyi, Juheshun, Haiyang and Yueyang Petrochemical’s contract prices were concluded, but other plants’ prices were still under discussion.

Below are contract prices of nylon 6 chip plants for nylon 6 HS chips. Actual prices are the prices below plus Sinopec’s monthly settlement for CPL. In addition, most prices were still under discussion, and the prices would be updated later.

Plants Semi-dull (yuan/mt) Dull (yuan/mt)
Meida 2,100  
Jinjiang 2,200 and rebate of 200 3,000 and rebate of 200
Hengyi 2,200 and rebate of 300 For volume below 200mt, 3,100 and rebate of 300; for volume above 200mt and below 500mt, 3,050 and rebate of 300; for volume above 500mt, 3,000 and rebate of 300
Fangyuan 2,200 and rebate of 200  
Juheshun 2,000 3,000 and rebate of 200
Mesbon 2,000  
Huajian 2,000  
Jinbo 2,200 and rebate of 200  
Haiyang 1,950 and rebate of 200, or 1,900 and rebate of 200  
Yueyang Petrochemical 1,800
Liheng 2,100, and rebate of 100 for volume over 1kt  
Yongtong 2,200 and rebate of 300  

Plants Way of rebate Remark
Meida   Monthly volume: ±10%
Jinjiang Rebate of 50% quarterly, or full rebate after half a year  
Hengyi Rebate of 30% or 50% after half a year, and the rest in end-year Including only 80yuan/mt of freight; volume of 11.5 months in 2018; Monthly volume: ±15% or ±20%
Fangyuan Rebate of 50% monthly, and the rest in end-year Monthly volume: ±20%, and if volume doesn’t reach the required amount, the rest amount could be paid by cash at spot prices; volume of 11.5 months in 2018
Juheshun    
Mesbon    
Huajian    
Jinbo Rebate monthly after 4 months  
Haiyang Rebate of 50% monthly, and the rest in end-year  
Yueyang Petrochemical   Deposit of 1 million yuan
Liheng    
Yongtong Rebate monthly after 4 months  

Contract prices for nylon 6 HS chips have been discussed for over one month. The prices would not be discussed lower evidently, and the discussions would be only on rebates or volumes. Considering that capital would increase amid high rebates and that spot prices may be lower than contract prices in 2018 due to large capacity expansion, contract demand mainly occupies 40%-60% of the total demand of filament plants. Contract volume of nylon 6 HS chips may decrease slightly in 2018 from that in 2017.


*Note: HS- high-speed spinning
   CS- conventional spinning
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