Acrylonitrile market lusterless amid tight supply in China

Asian acrylonitrile marker, the CFR Far East Asia was flat in the second week of February at US$979-981 a ton while Southeast Asia was at US$899-901 a ton.

In China, offers for offshore cargoes were at US$1,000-1,050 a ton CFR China. In East China, domestic prices stood at 7,800-7,900 Yuan a ton.

Acrylonitrile prices in Asian markets remained flat in thin activity during the holiday week. In China, spot market was lusterless amid tight supply.

Buying interest was subdued given low price level in the market. Buyers bought hand to mouth volume and were non-committed to deep-sea cargoes due to long freight period.

In US, acrylonitrile spot was steady watching propylene and slowdown in Asia. Acrylonitrile export assessment was flat week on week, assessed at US$805-815 a ton FOB USG.

In Europe, acrylonitrile markets held on to pricing after absorbing fall in feedstock cost. February contract prices was agreed at a fall while was widely expected because of drops in feedstock propylene and ammonia cost.

European acrylonitrile spot prices were assessed stable on the week at US$798-802 a ton CIF Mediterranean. Meanwhile, February contract declined Euro60 a ton on the month.

Courtesy: Weekly PriceWatch Report