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Acrylonitrile prices plunge on ample supply

YarnsandFibers News Bureau 2017-07-13 09:23:31 –

Asian acrylonitrile prices edged down US$1 a ton CFR Far East Asia in the last week of June while CFR South East fell US$5 a ton on the week. In China, offers for offshore cargoes declined US$50 a ton on the week.

Acrylonitrile prices declined across regions as demand did not rise commensurate to supply while upstream feedstock cost too eased. In China, ACN spots market remained weak during the week since Sinopec announced monthly settlements with a reduction. Downstream demand was lusterless as acrylamide offers dropped while ABS prices were stable. ASF prices were stable and lukewarm demand.

In US, ACN export prices and domestic contract price dropped as supply improved. Export prices are likely to see large drop in July, more in line with overall drop in feedstock costs. US acrylonitrile export price was down US$20 a ton FOB USG during the week.

In Europe, ACN CIF values declined with crude oil and propylene softening. Spot moderated US$35 ton CIF Mediterranean on the week.

Courtesy: Weekly PriceWatch Report

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