CPL price declined continuously in mid-to-late May

At the beginning of May the accidental shutdown of Luxi's caprolactam plant caused a small rebound, then CPL price turned to a continuous decline. And due to Luxi's decision to continue production with part of nylon 6 chip production, CPL supply-demand pattern worsened and prices followed downstream nylon 6 chip.

Since late May, downstream had reached a consistence of bearish outlook and stayed wait-and-see. CPL decline accelerated. As of May 25, the price in East China has dropped to between 11,750-11,900yuan/mt.