In China, ASF prices were stable in the fourth week of March. Sinopec Chemicals released ASF settlement prices for March, flat to the list prices.
Acrylic staple fibre market sentiment was fast weakening, as demand softened amid the upcoming off season. Prices generally rolled over on cost support in China, Pakistan and India. Downstream mills only covered shorts during the week, expressing low production interest in the face of thin fresh orders as the off-season will befall soon.
ASF producers are likely maintain stable offers for lack of upward strength. However, since the cost pressure was still heavy, they may even incur margin losses. Under such background, some units may be idled or operated at lower rates, in a bid to relieve the pressure.
Courtesy: Weekly PriceWatch Report
