Asian acrylonitrile prices rose US$20 a ton CFR Far East Asia in the week ended 3 August 2018 while CFR South East also jumped US$20 a ton. In China, offers for offshore cargoes were up US$50 a ton while prices in India surged US$50 a ton during the week.
Acrylonitrile prices in Asian markets were assessed up during the week amid a scarce supply in the region despite the start-up of a new plant in China. China’s Shandong Haili Chem started up a new ACN plant on 3 August which would have 130,000 tons per year of production capacity. Meanwhile, Taiwan’s FPC is planning to shut its 280,000 tons per year ACN plant on 18 August.
In US, export acrylonitrile prices moved up in the week amid continued supply concerns in the global market ahead of a heavy turnaround schedule in the second half of the year. US acrylonitrile export prices increased US$50 a ton FOB USG on the week.
In Europe, spot ACN prices surged US$50 a ton CIF Mediterranean in the week.
Courtesy: Weekly PriceWatch Report
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