ASF price rolls over amid steady downstream demand

In China, ASF prices rolled over in Yuan terms in the third week of November but were down US$2 a kg due to weak currency. Medium-length fiber and cotton-type staple were stable during the week. Offers for Taiwan origin 3D bright ASF tow were unchanged, while regular specs were steady on the week.

Acrylic staple fibre prices were stable across markets in Asian seeing steady downstream demand and normal liquidity. However, weak currency in China and India pegged prices down in US$ terms.

November list prices were raised to neutralise the weak Yuan in China. However, with the downward tendency of upstream acrylonitrile market and the retreat in downstream yarn market, ASF prices can hardly see rounds of uptick. Downstream demand was still sound, keeping ASF markets active.

Sinopec raised its November list prices, with cotton?type staple 1.5D at US$1.86-1.88 a kg from Shanghai Petrochemical, US$1.83 a kg from Anqing Petrochemical and US$1.78 a kg from Qilu Petrochemical.

In Pakistan, 1.2D ASF prices rolled over on the week.

In India, offer was stable in INR terms but was down US cents 5 a kg due to weak INR on the week.

Courtesy: Weekly PriceWatch Report