Asian acrylonitrile prices increased US$30 a ton CFR Far East Asia and Southeast Asia in the last week of February. In China, offers for offshore cargoes were flat while Indian ACN prices rose US$20 a ton on the week.
Acrylonitrile prices in Asian markets were driven up again by tight supply and high propylene cost. Shanghai Secco shuts its plant for turnaround from 20 February 20 to 25 March for maintenance.
In China, spot prices continued to climb after one major announced monthly settlement higher, which fueled spot again and players were expecting further hikes.
In US, acrylonitrile spot firmed up amid tight supply and anticipating propylene and ammonia CP could rise. Acrylonitrile export price rose US$10 a ton FOB USG on the week.
European acrylonitrile rise showed no signs of slowing amid significant surge in global prices. European acrylonitrile was up US$20 a ton CIF Mediterranean during the week.
Courtesy: Weekly PriceWatch Report
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