In China, medium-length staple fiber and cotton-type staple prices rolled over in the second week of July. Players showed relatively stable mindset in China due to concentrated maintenance, while the market performance was lackluster.
Sinopec retained its July list prices with 1.5D ASF at 12.60-12.70 Yuan a kg (US$1.88-1.90 a kg) and 3D tow at 12.90-13.20 Yuan a kg (US$1.93-1.98 a kg).
As acrylonitrile prices appeared to be weak that week in Asia, the cost support to acrylic fibre markets reduced. On the other hand, ASF producers continued with production cutbacks and shutdowns, while trading atmosphere turned insipid, citing weak yarn and fabric sentiment.
In India, given the lingering off season in yarn and fabric markets, buying interest was mostly lusterless and ASF prices rolled over.
In Pakistan, 1.2D ASF prices were unchanged on the week.
Courtesy: Weekly PriceWatch Report
