Asian acrylonitrile prices declined US$21 a ton CFR Far East Asia in the third week of June while CFR South East was down US$20 a ton on the week. In China, offers for offshore cargoes rolled over during the week.
Acrylonitrile markets in Asia gave back all its previous week’s gains as downstream demand continued to remain lusterless amid increased supply. In China, ACN spots market was stable?to?weak and transaction was quiet.
Most sellers rolled over spots offers, while Sinopec announced reduced its monthly settlement for the month. Downstream acrylamide offers dropped while ABS prices were firm. ASF makers were running a low capacity, with lower offers and high inventory.
In US, improving ACN supply weighed on export spot prices and constraints on supply eased following the heavy turnaround season. US acrylonitrile export price was down US$15 a ton FOB USG on the week.
In Europe, ACN spot prices remained stable decouple from feedstock spot which settled down on the week.
Courtesy: Weekly PriceWatch Report
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