China Acrylic Market Daily(10 Jan 2011)

China-made ACN: 18,700-19,400yuan/mt, ex-works
Spot ACN: 19,400-19,600yuan/mt, ex-tanks

Spot RMB ACN market continued to be weak. Offers of producers were firm as not many spot cargoes were available. Buying interest of downstream plants was relatively weak. Traded prices prevailed at 19500yuan/mt ex-tanks in East China. Some shipments arrived at the ports in East China, but many have already booked and the buyers were actively in getting the cargoes.

USD offers were firm affected by device turnarounds. Deep-sea cargoes were offered at around $2350/mt or higher, ex-tanks in East China. Offers for offshore cargoes were slightly lower. It was hard for downstream plants to accept current offers and they preferred to sideline. Only a few deals were done.

Cotton type ASF 1.5D: 23,300-23,800yuan/mt
ASF 3D: 23,000-23,450yuan/mt
Acrylic tow 3D: 23,150-23,700yuan/mt
Acrylic top 3D: 24,050-24,700yuan/mt by cash, ex-East China

Domestic producers were running at the unchanged operating rate today and the offtake was normal. Inventory was at relatively low levels.

The prices kept steady in East China. Cotton-type ASF 1.5D was traded at 23650-23800yuan/mt while the prices for 3D were at 23200-23450yuan/mt, ex-works, by cash. Some downstream acrylic yarn makers were replenishing stocks. Sales were only moderate, but better than last month.

($1=CNY6.63)

source:CCFGroup