Asian acrylonitrile marker, the CFR Far East Asia gained another US$15 a ton in the second week of May while Southeast Asia was up US$29 a ton. In China, spot prices inched up on the week.
Acrylonitrile prices in Asia further headed north as supply remained tight in due to several turnarounds. Thai PTT plant went offline from 10 May for a month shrinking supply in the region.
In US, acrylonitrile spot rose to a nine-month high and could cross US$1,000 a ton mark by the end of the month given the current sharp increase in pricing. Supply has been tighter due to a couple of production outages late in Q1 and at start of Q2. US acrylonitrile export assessment gained US$30 a ton FOB USG.
European acrylonitrile spot market was bullish on supply scarcity both, from domestic sources and imports. European spot prices rolled over on the week.
Courtesy: Weekly PriceWatch Report
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