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Acrylonitrile prices plunge amid weak buying sentiment

YarnsandFibers News Bureau 2016-11-17 04:19:03 –

Asian ACN markers were down US$10 a ton CFR Far East Asia and Southeast Asia in the first week of November. In China, offers for offshore cargoes remained unchanged on the week.

Acrylonitrile prices fell for the first time in Asian markets since early March due to resumed supply and weak buying sentiment, though the downtrend is likely to remain limited. Trading remained thin amid weak sentiment while feedstock propylene fell on the week.

In Europe, ACN prices decreased despite increase in feedstock cost. Demand from Asia wanes on expected bearish market. European prices were assessed US$5 down a ton CIF Mediterranean during the week.

In US, acrylonitrile spot and export prices rose on tight supply, as Ineos will shut its Texas plant for Q2 turnaround. ACN export assessment rose US$10 a ton FOB USG on the week. October propylene contract was settled down on the month.

Courtesy: Weekly PriceWatch Report

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