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MEG & ACN record mixed price movements
26
Feb '08
A slow down in polyester staple prices at the close of 2007 was partly due to weakening market conditions in Far East Asia. In particular weakening demand and a build up of stocks in China pushed polyester fibre chip prices lower than a month earlier.

Monthly falls in Far East Asia were partially offset by rising polyester prices in the US. In Western Europe, polyester staple prices remained firm, supported by solid demand.

Acrylic prices in December also remained flat after steady monthly moderate increases during the September to November period. Subdued demand in China, a fairly strong reduction in acrylic imports by the US and weak demand in Western Europe were the main factors contributing to easing acrylic prices in December.

Synthetic raw materials (MEG and Acrylonitrile) recorded mixed price movements in December. Acrylonitrile (ACN) prices remained flat while MEG prices recorded a solid monthly increase.

Weakening prices of synthetic fibres in December resulted in a rise in the 21 micron wool to synthetic price ratio, weakening the competitiveness of Australian wool on international markets.

Australian Wool Innovation Limited

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