Taiwan origin 3D bright ASF tow offers rolled over in the first week of June, since it was last revised upward in late April. In China, medium-length fiber and cotton-type staple ASF prices rolled over on the week in Yuan terms but up US cents 2 due to weak US$.
Acrylic staple fiber prices were stable amid limited activities in Asian markets that week. Downstream demand saw no improvement, as yarn makers faced high inventory pressure amid slow liquidity.
In China, ASF sentiment was mute with no bullish factors seen in near future. Producers are expected to roll over their indications further. In India, inventory with ASF producers was generally stable as they ran at reduced rate. Thus, they were able to maintain price stability. With INR strengthening, prices in US$ terms inched up.
In Pakistan, due to high yarn stocks, some mills restricted production while demand remained thin and prices rolled over.
Courtesy: Weekly PriceWatch Report
