Acrylonitrile price jumps on tight supply

YarnsandFibers News Bureau 2016-09-22 08:08:07 –

Asian acrylonitrile markers, CFR Far East Asia and Southeast Asia rose US$5 a ton in the first week of September. In China, offers for offshore cargoes were up US$50 a ton on the week.

Acrylonitrile prices in Asian markets rose across the board as supply remained tight with very limited offers. Availability was also hindered by lack of deepsea cargoes. In China, spot prices surged that week, with majors offering higher. Players indicated difficulty to get deals done even at high level.

In US, acrylonitrile export prices remained on upward trend as market were bullish amid tight supply and higher September propylene contract price. Export spot assessment gained US$5 a ton FOB USG.

In Europe, acrylonitrile spot was flat in quiet spot trading amid shortages while dip in ammonium seen to offset monomer gains.

Courtesy: Weekly PriceWatch Report

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