Asian ACN marker, the CFR Far East Asia was up US$10 a ton while Southeast Asia rose US$5 a ton in the last week of June. In China, offers for offshore cargoes were stable during the week.
Acrylonitrile prices in Asian markets were stable to higher on the week as demand resurged while supply was likely to reduce as Secco will shut its 260,000 ton a year plant for a month beginning 15 August while Taekwang moved turnaround earlier to 24 July.
In US, acrylonitrile assessment had increased steadily since 22 March but recorded its first week-on-week decline since 16 February. Buyers did not appear willing to pay more, but sellers have sought higher due to firm production costs. Acrylonitrile export assessment slipped US$10 a ton FOB USG.
In Europe, acrylonitrile prices were held firm at possible ceiling on sustained Asian demand while there was marginal effect on demand from UK referendum.
Courtesy: Weekly PriceWatch Report
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