China Acrylic Market Daily(24 Feb 2011)

China-made ACN: 19,400-20,200yuan/mt, ex-works
Spot ACN: 20,600-20,700yuan/mt, ex-tanks

ACN spot offers still firmed high on Thursday, with a few pushed up further. Mainstream offers were in the range of 20800-21000yuan/mt, ex-tanks. Constrained by cheaper cargoes from north China and resistance toward high prices, trading level stood at 20700yuan/mt and faced difficulties in climbing up.

Import market kept strong. Deep-sea cargoes continued to climb, reaching $2700/mt CFR CMP. Off-shore cargoes were slighter cheaper, with trading level at $2600/mt. Currently, many traders were inquiring actively. They were concerned with delivery time, prices and were quite cautious in purchasing.

Cotton type ASF 1.5D: 24,000-24,400yuan/mt
ASF 3D: 23,700-24,050yuan/mt
Acrylic tow 3D: 23,950-24,400yuan/mt
Acrylic top 3D: 24,850-24,900yuan/mt by cash, ex-East China

China acrylic fiber producers have gradually settled Feb contract prices slightly higher than Jan settlements. The settlements of Sinopec and PetroChina were similar, while Jilin PC settled relatively higher.

Labor shortage continued to affect the production recovery of downstream acrylic yarn plants. Sales of acrylic staple fiber were moderate; acrylic tows and tops were better.

$1=CNY6.58