Asian marker, the CFR Far East Asia was up US$24 a ton in the third week of August while Southeast Asia jumped US$75 a ton on the week. In China, offers for offshore cargoes were hiked US$20-50 a ton CFR during the week.
Acrylonitrile prices soared in Asian markets with offers rising significantly amid tight supply and rising propylene cost. In China, Shanghai Secco shut its ACN unit Mid-August limiting regional availability. Spot prices went range?bound that week, though majors offered flat and traders tended to raise offers.
In Europe, ACN spot price jumped on demand from Asia. European acrylonitrile was up US$50 a ton on the week.
In US, spot pricing climb continued and assessment remained at its highest level since 24 March 2015. Experts continued to describe the US spot market as notional, with no traders, bids or offers heard due to limited availability. Export spot assessment rose US$10 a ton FOB USG, highest level in 17 months.
Courtesy: Weekly PriceWatch Report
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