Asian ACN prices further surged US$50 a ton CFR Far East Asia in the third week of January while Southeast Asia gained US$60 a ton on the week. In China, offers for offshore cargoes jumped US$50 a ton on the week. In India, ACN prices were held stable during the week.
Acrylonitrile prices in Asia hit 2-month high on tight supply as demand was healthy amid firm downstream ABS. In China, downstream demand was stable with ASF makers running at high capacity, with prices firming in spite of insipid demand. ABS sentiment improved a bit, with producers run rate at 84%.
In Europe, acrylonitrile prices rebounded significantly following the December slump and on demand from fiber producers. Global prices rise also helped lift spot prices. European acrylonitrile spot rebounded US$100 a ton CIF ARA on the week.
In US, acrylonitrile spot jumped with global gains and possible shipment to Asia. January propylene contract nomination also supported spot markets. Acrylonitrile export assessment surged US$50 a ton FOB USG on the week.
Courtesy: Weekly PriceWatch Report
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