Asian acrylonitrile prices edged down US$5 a ton CFR Far East Asia and CFR South East in the second week of May. In China, offers for offshore cargoes rolled over while Indian ACN was US$50 a ton cheaper on the week.
Acrylonitrile prices edged down in Asian markets on waning demand and falling cost of feedstock propylene, the raw material. In China, ACN spot market was stable?to?weak but low?end prices were less available, attributed to suppliers’ efforts to maintain price level. Downstream demand was lusterless with ASF makers running at 80%, with flat offers and insipid demand. ABS held stable amid insipid trades while acrylamide offers were reduced.
In US spot ACN was higher amid tightness while Brazilian goods headed to US. Exports are likely to stay limited until H2 2017. US ACN export price was US$10 a ton FOB USG higher on the week.
European ACN price was under pressure from falling feedstock while tight supply held prices against bearish factors.
Courtesy: Weekly PriceWatch Report
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