ASF price remains range-bound in Asian markets: 23-11-2016

By admin       2016-11-24

  In China, ASF prices were stable in Yuan terms but down US$2 a kg due to weak currency in the second week of November. Sinopec raised its November list prices to neutralize currency change, with cotton‚Äźtype staple 1.5D at US$1.88-1.89 a kg from Shanghai Petrochemical, US$1.84 a kg from Anqing Petrochemical and US$1.80 a kg from Qilu Petrochemical. Acrylic staple fibre prices were generally stable in Asian markets excepting India, where producers price were revised down. In China, production run rate picked up somewhat, leading to more supplies, while end demand remained modest. Export market transaction was impacted somewhat by higher prompt exchange rate. Downstream demand was sound, without signs of weakening. Market fundamentals remained in balance, citing favorable downstream demand. Since ACN values although fell but were still firm and downstream yarn performance is fair. In Pakistan, 1.2D ASF prices rolled over during the week. In India, offer was stable on the week. 

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