Asian acrylonitrile prices were flat in the fourth week of March. In China, offers for offshore cargoes were steady while Indian ACN prices rolled over on the week.
Acrylonitrile prices were stable to up across regions that week. South Asia prices rose amid supply tightness while they rolled over in Far East. In China, ACN spot prices held stable as higher monthly settlements from Sinopec supported market confidence, given softening propylene and acrylic fiber market entering seasonal lull and market outlook less encouraging.
In US, acrylonitrile spot hit a fresh 25-month high reflecting ongoing supply tightness in the global market and expected rise in feedstock propylene March contract. US acrylonitrile export price was US$50 a ton FOB USG higher as compared to previous week.
European acrylonitrile price ceiling remained unfound and bullish market was seen continuing into April. Spot was assessed up on the week. European ACN prices surged by another US$50 a ton CIF Mediterranean on the week.
Courtesy: Weekly PriceWatch Report
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