China Acrylic Market Daily(22 Feb 2011)

China-made ACN: 19,400-20,200yuan/mt, ex-works
Spot ACN: 20,500-20,700yuan/mt, ex-tanks

ACN spot offers continued to climb but transactions followed up just slowly. Mainstream trading level was around 20600yuan/mt ex-tanks at East China port.

In import market, offers were chaotic due to the expectation of tight supply. Spot availabilities were rare and traders were cautious buyers. Offers were mostly at $2650/mt CFR China main port.

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 transactions were moderate today and prices stayed flat. Running rates of acrylic yarn plants have not increased much. Most yarn plants were still waiting for Feb fiber contract prices to come out. It was estimated that Feb acrylic fiber contracts might be settled 300-500yuan/mt higher.

As ACN kept rising, most oversea acrylic fiber plants adopted a looking-on stance, reluctant to announce new offers. A few offers have been hiked significantly and were much higher than domestic fiber prices.

$1=CNY6.58