China Acrylic Market Daily(15 Feb 2011)

China-made ACN: 19,000-19,600yuan/mt, ex-works
Spot ACN: 20,300-20,500yuan/mt, ex-tanks

ACN spot market continued to head higher and offers were chaotic on Tuesday, with mainstream prices at 20400-20500yuan/mt ex-tanks. Some traders offered at very high level but no buyers took it. Transactions were moderate.

China ACN plants kept running rates stable, their spot supply was limited but prices were slightly lower than spot market at the port. Spot cargoes in import market were scarce and offers were rarely heard. Ship cargoes for Mar delivery were priced at $2650/mt CFR Europe, US and South Asia.

Cotton type ASF 1.5D: 23,600-24,100yuan/mt
ASF 3D: 23,300-23,750yuan/mt
Acrylic tow 3D: 23,450-24,000yuan/mt
Acrylic top 3D: 24,350-24,900yuan/mt by cash, ex-East China

Acrylic fiber market remained flat today. Transactions did not show evident improvement. In comparison, acrylic yarn quotations were gradually moving up while transactions were moderate. Currently, acrylic yarn production was recovering slowly. For most plants, a lack of workers was still a big headache. It was heard that the overall operating rates in Changshu were around 30-40%。

China acrylic fiber plants kept stable operation and low inventory level. Oversea fiber plants faced difficulty in deciding on Mar nominations as ACN climbed continuously.

$1=CNY6.59

source:CCFGroup