Acrylic Downstream Yarn Weak

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Acrylonitrile (ACN)

Acrylonitrile markets in China were on a weak note as suppliers lowered offers amid mute activities. Downstream demand was also weak as acrylamide makers were running at low rate while ABS values dipped. However, prices in other Asian markets firmed up in the first half of March. Asian ACN marker the CFR Far East rose US$60 to US$1,989-1,991 per metric ton while offers in India declined US$100 to US$1,850-1,900 per metric ton CFR. In China, self-lifting values declined at Lianyungang port assessed at 14,700-14,800 Yuan per metric ton (US$2,315-2,330 per metric ton, down US$170). In Europe, spot prices were at US$1,903-1,907 per metric ton CIF Mediterranean while US export prices gained US$90 on the fortnight at US$1,890-1,910 per metric ton FOB USG.

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Acrylic staple fibre prices were raised in India, Taiwan and China as fundamentals remained sound amid silent market, while downstream yarn sectors saw lukewarm activity. Some producers were more active in production recently with feedstock ACN market on a weak note. As feedstock headed south, overall margins in ASF picked up, but producers were facing multiple problems, indicating larger pressure.  Taiwan origin 3D bright ASF tow offers were lifted US cents 23-25 since end February to US$2.45-2.55 per kg. In China, medium-length fibre and cotton-type staple offers were up US cents 24 at US$2.66-2.90 per kg. In India, offers were raised to INR176.00-187.50 per kg (or US$2.70-2.88 per kg).

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