Feedstock, propylene prices in Asia fell in April amid historic lows in the crude oil and naphtha markets that month. In the US, propylene prices firmed up despite weak energy prices, as supply was less from refineries and due to some cracker issues during the month. In Europe, propylene prices fell further during the month. Asian marker, FOB Korea was down 19.4% from March while CFR China fell 13.2% from the previous month. In Europe, chemical-grade propylene prices moved down by 15.1% while spot polymer-grade propylene prices in the US rose 4.11%.
Intermediate, acrylonitrile (ACN) prices in the Asian markets declined again amid a lack of recovery in downstream demand in April. In the US, ACN prices were assessed down on collapsed demand that month. In Europe, ACN prices hit historic lows in April amid pandemic crisis-impacted demand. European prices fell 14.7% while US export assessments were down 20.4% in the month. Asian marker, the CFR Far East Asia fell 16.4% on the month.
Acrylic staple fiber (ASF) prices in April were lowered in the Asian markets of China, India, and Pakistan during the month. In China, ASF producers were down reacting to the downtrend in the ACN cost in April. The prices were lowered as the trading sentiment was quiet with sluggish demand, despite low ASF production in the region. The average run rate of ASF producers in China was down at 27%. ASF producers continued to carry out production cutbacks. In China, offers for cotton-type and medium-length staples were down US cents 11 a kg. Indian offers for ASF fell US cents 4 on the month. In Pakistan, 1.2D ASF prices were down US cents 28 on the month.
Courtesy: YnFx Monthly PriceWatch Report
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