Taiwan origin 3D bright ASF tow offers inched up US cents 5 a kg in the last week of April. In China, medium-length fiber and cotton-type staple ASF prices were up US cents 3-7 a kg on the week.
Acrylic staple fibre prices held stable as downstream cotton and wool spinning mills saw poor order intakes, while upstream acrylonitrile prices softened, thus dampening market confidence. Prices in China were up while they rolled over in India and Pakistan. Markets were primarily dominated by pessimistic outlook, with traders getting more aggressive although suppliers stuck to their offers, with support absent.
In China, ASF producers raised May list prices. However, facing lackluster demand, rising inventory and weakening cost, they will try to maintain the price levels then. ASF producers are still expected to keep stable prices but markets are likely to soften further in May.
Courtesy: Weekly PriceWatch Report
