Asian ASF markets remain ranged bound amid thin trading

YarnsandFibers News Bureau 2016-09-15 05:46:24 –

Offers for Taiwan origin 3D bright ASF tow jumped US cents 15 a kg in the last week of August while regular specs were stable on the week. In China, medium-length staple fiber and cotton-type staple prices rolled over at US$1.81-1.90 a kg. PetroChina East China branch released September settlement prices for 1.5D ASF pegged at 12.45 Yuan a kg (US$1.90-1.91 a kg) and 3D tow at 13.60 Yuan a kg (US$1.94-1.96 a kg, down US cents 3 on the upper end).

Acrylic staple fibre markets were supported by recent jumps in raw material acrylonitrile cost while overall sentiment was lackluster amid thin trading on the back of low buying interest. In China, prices remained unchanged although upstream values remained northbound supporting market.

Prices in India and Pakistan remained unchanged as spinners expressed low production interest and buying raw material cautiously.

It is likely that thin demand will sustain while ACN prices will remain firm on scarce availability, indicating high cost pressure.

Courtesy: Weekly PriceWatch Report

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