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Acrylonitrile price declines amid oversupply in Asia

YarnsandFibers News Bureau 2016-03-17 12:18:06 –

Asian acrylonitrile marker, the CFR Far East Asia fell US$20 a ton in the first week of March. In China, sporadic offers for offshore cargoes were down US$50 a ton CFR China on the week, but buyers were mainly on the sideline.

Acrylonitrile prices declined in Asian markets amid oversupply while sentiment was bearish on expectations that the additional capacities, which came on-stream in China would continue to depress spot prices further, and limit imports of prompt spot cargoes.

In US, acrylonitrile market fundamentals remained stable but the timing of a rebound was uncertain. Sentiment for March and the second quarter shifted to flat to slightly bullish. Demand was steady into March with supply a bit tighter in the market.

In Europe, acrylonitrile prices remained flat on feedstock and fundamentals. Feedstock propylene settled at rollover in March while declines in Asia limited exports from Europe. European acrylonitrile spot prices rolled over on the week.

Asian acrylonitrile marker, the CFR Far East Asia fell US$20 a ton in the first week of March. In China, sporadic offers for offshore cargoes were down US$50 a ton CFR China on the

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