Taiwan origin 3D bright ASF tow offers were stable in the third week of July while offers for regular specs rolled over on the week. In China, medium-length staple fiber and cotton-type staple prices remained unchanged on the week. Acrylic staple fibre markets continued to remain range bound that week, despite surges seen in cotton, VSF and polyester fiber.
Upstream, acrylonitrile cost also surges in most markets excepting slight rise in China. Thus, sentiment of ASF and its downstream yarn markets remained lusterless, seeing stable prices for ASF and soft prices for downstream yarn on the week.
Under the combined impact of limited downside potentials of acrylonitrile cost, some production cutbacks by ASF producers and no major improvement in downstream demand, it is likely that ASF prices will remain flat in the short run.
In India, ASF offers rolled over during the week.
In Pakistan, 1.2D ASF prices were unchanged on the week.
Courtesy: Weekly PriceWatch Report
