USD Acrylic Fiber Market Continues to Hike, Chinese Domestic Market Quiet
Time：Jun 17 2008 11:28A
MAcrylic fiber prices moved up evidently in USD market
encouraged by the firm feedstock. However, the business of conventional descriptions was quite thin. Chinese domestic market stabilized on the back of adjusted-down raw material prices and soft acrylic yarn market. Major fiber producers had remained the quotations since the beginning of the month. The supply of ASF in East China was still ample. The prevailing prices of ASF 1.5D for cotton type spinning ruled at 18,000-18,600yuan/mt in East China and those of ASF 3D at 17,700-18,200yuan/mt. The prices of some cotton type ASF whose supply was tight previously also had returned to the normal level. The performance of acrylic tow and acrylic top was better than ASF attributed to the tolerable sales of worsted yarns. Though the prices had not ticked up, the transaction volumes had risen slightly. The supply of acrylic tow kept stable in East China. The mainstream prices of bright and semi-bright acrylic tow 3D were placed at 18,400-19,000yuan/mt and those of conventional and lofted acrylic top 3D at 19,000-19,800yuan/mt, with a little active trades. The producers continued to lift up the fiber offers in USD market despite the bearish demand as ACN prices were expected to keep surging. The suppliers revised up the quotations of offshore-made ASF 1.5D for cotton type spinning at $2,580-2,620/mt, CIF 90 days, with rare buying interest. Both the buyers and sellers held wait-and-see stance. Only some low-grade descriptions were pegged at below $2,550/mt, CIF 90 days, while the business was sparse as well. The prices of imported acrylic tow and high-shrinkage ASF also strengthened significantly. The prevailing offers of offshore-made bright and semi-bright acrylic tow 3D had picked up to $2,500-2,550/mt, CIF 90 days, and those of deep-sea-made low-grade varieties were close to $2,400/mt, CIF 90 days. Some higher offers had exceeded $2,600/mt, CIF 90 days. The quotations of imported high-shrinkage ASF 3D had edged up to $2,520-2,560/mt, CIF 90 days. However, the transactions were quite thin. The outlook is mixed. On the one hand, downstream acrylic yarn market has been softened, which will hinder the upward movement of acrylic fiber market. Many yarn plants have curtailed or stopped production impacted by the sluggish export market and Chinese domestic market. On the other hand, ACN prices will continue to hover at high levels supported by the leaping crude oil. Therefore, it will push fiber market to climb up further. Once ACN prices tick up, acrylic fiber market may hike again.
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