Acrylonitrile price falls on increasing supply

YarnsandFibers News Bureau 2017-12-21 07:29:15 –

Asian acrylonitrile prices fell US$11 a ton CFR Far East Asia in the first week of December while CFR South East was also down US$10 a ton on the week. Acrylonitrile prices in Asian markets fell that week despite high upstream cost as supply in the region was increasing week on week.

In China, offers for offshore cargoes were flat on the week while prices in India were largely stable. Indian imports of acrylonitrile in September 2017 rose 35% to 10,239 tons as compared to same month last year.

Meanwhile, Taiwan’s FPC is planning to shut its 280,000 tons per year ACN unit for maintenance in mid-Jan 2018.

In US, spot acrylonitrile prices softened during the week as liquidity in the US Gulf thinned amid increased availability and trades were heard to be done in overseas regions. US acrylonitrile export prices were down US$10 a ton FOB USG on the week.

In Europe, acrylonitrile prices were steady while suppliers were bullish for the December negotiations in that week.

Courtesy: Weekly PriceWatch Report

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