Asian ACN prices were up US$20 a ton CFR Far East Asia in the first week of January while Southeast Asia gained similarly on the week. In China, offers for offshore cargoes were up US$20 a ton during the week.
Acrylonitrile prices in Asian markets rose on stronger demand and tighter supply while CFR South Asia surged 15% although propylene costs rose marginally but down on the week. Downstream demand was stable as acrylic fiber suppliers ran at 96% capacity after sharp price increase. ABS sentiment were weak amid lukewarm trades, Acrylamide prices rose as suppliers ran at 60% capacity.
In US, spot acrylonitrile was stable amid weak demand and low supply. Inventory tightness could ease up sooner.
European acrylonitrile market was bullish as dearer feedstock is set to drive price increase. However, spot was assessed at a roll over.
Courtesy: Weekly PriceWatch Report
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