CS chip market turned lucrative in Q4 2021

The first chart is the historical price spread of nylon 6 conventional spinning chips (short as CS chip) chip and CPL since 2016, the trend has continuously spiraled up in the second half of 2021, and reached above 1,400yuan/mt in mid-Dec. And one thing should be noted that the price term of CPL RMB spot is“6 months payment”and that for CS chip is“by cash”, and there should be 100yuan/mt margin added to the actual spread between CS chip and CPL. Therefore, CS chip is 1,500yuan/mt over CPL spot.