Asian acrylonitrile prices declined US$41 a ton CFR Far East Asia in the first week of June while CFR South East fell US$10 a ton on the week. In China, offers for offshore cargoes rolled over on the week.
Acrylonitrile prices fell in Asian markets from a week ago due to sluggish downstream demand and fall in raw material cost. In China, ACN spots remained weak during the week although demand improved a bit but remained sluggish in general amid sufficient supply in spite of recent outage of Qilu.
In US, ACN spot was stable with thin exports despite it would ease European tightness. Domestic supply would rise with Ineos Texas unit restarting mid-June.
European spot market remained tight as resupply from other regions was limited. Meanwhile contract price decrease will fall short of feedstock drop due to ongoing restrictions to domestic production.
Courtesy: Weekly PriceWatch Report
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