In China, ASF prices rolled over but went down US$1 a kg due to weak currency in the fourth week of November. Acrylic staple fibre prices were generally stable during the week, despite some hikes in settlement prices.
Upstream acrylonitrile cost weakened, leading to relieved cost pressure. In China, ASF producers enjoyed better profit margins, amid sound liquidity. Downstream demand was sound, so ASF market was still active. Demand is expected to keep steady next week.
In Pakistan, ASF prices remained unchanged as market fundamentals were still balanced.
In India, prices rolled over with the help of favorable demand. However, cost pressure relieved with ACN values on the mild downswing. ASF producers are expected to maintain stable numbers going ahead.
Courtesy: Weekly PriceWatch Report
