Acrylonitrile prices touches 9-month high in Europe, US

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Mumbai
Acrylonitrile prices touches 9-month high in Europe, US
Summary: 
Acrylonitrile prices rose in Asian markets in the week ended 24 January, tracking higher production costs and tightening supplies. However, trades were scarce amid cautious buying sentiment in the week. In Europe, spot prices for acrylonitrile rose to a nine-month high on tighter supply fundamentals. Meanwhile in US domestic acrylonitrile prices also jumped to a nine-month high on higher feedstock propylene cost. Asian acrylonitrile markers surged US$30-40 with CFR Far East Asia to be assessed at US$1,979-1,981 a ton while CFR South East Asia moved up to US$1,960. In China, the CFR values jumped to US$1,930-2,980 a ton. European acrylonitrile prices were up US$23 at US$1,873-1,878 a ton CIF Mediterranean while US domestic assessment rose US cents 4 on the week to a nine-month high at US cents 101 per pound lb delivered. However, export price assessment remained flat at US$1,860-1,880 a ton FOB USG.

Acrylonitrile prices rose in Asian markets in the week ended 24 January, tracking higher production costs and tightening supplies. However, trades were scarce amid cautious buying sentiment in the week. In Europe, spot prices for acrylonitrile rose to a nine-month high on tighter supply fundamentals. Meanwhile in US domestic acrylonitrile prices also jumped to a nine-month high on higher feedstock propylene cost. Asian acrylonitrile markers surged US$30-40 with CFR Far East Asia to be assessed at US$1,979-1,981 a ton while CFR South East Asia moved up to US$1,960.

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