Acrylonitrile price rises on tight supply in Europe

YarnsandFibers News Bureau 2016-06-30 06:19:47 –

In Europe, acrylonitrile prices jumped on tight supply as maintenance at Ineos' Seal Sands plant continued. European acrylonitrile spot prices jumped US$40 a ton CIF Mediterranean on the week, taking the total surge to US$65 in two weeks.

In US, acrylonitrile spot was steady although tight supply prevailed. Spot pricing were higher over the last three months due to tighter supply and climbing prices in Asia. US acrylonitrile export assessment rolled over on the week. The assessment was at its highest level since end-July when it was at US$1,150 a ton.

Asian ACN marker, the CFR Far East Asia was flat on the week while Southeast Asia closed down US$10 a ton. In China, offers for offshore cargoes firmed up US$20 a ton CFR on the week.

Acrylonitrile prices in Asian markets were stable on the week amid thin trade following three-day holidays in China and increased supply with the restart of PTT Asahi Chem plant opening the week.

In China, spot prices seemed to be losing strength that week. CPDC will raise run rate to average 90% over June-August period.

Courtesy: Weekly PriceWatch Report

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