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Acrylonitrile prices plunge on weak demand

YarnsandFibers News Bureau 2016-03-03 07:22:05 –

Asian acrylonitrile marker, the CFR Far East Asia and Southeast Asia was down US$15 a ton in the third week of February. In China, offers for offshore cargoes were at US$1,000-1,050 a ton CFR China.

Acrylonitrile prices dipped in Asian markets as buyers expected prices to fall further. Spot activity was mute after Lunar New Year holidays.

Downstream demand was lusterless as run rate at ASF producers was still below 100% while ABS demand was yet to recover. Acrylamide prices held flat, thus demand remained weak.

In US, ACN market was talked around the US$800 a ton level for exports, but sentiment turned flat to slightly bullish on a slight improvement in demand and tighter supply.

Acrylonitrile export assessment was down US$20 a ton FOB USG on the week.

European acrylonitrile market maintained strength on lack of supply options. Acrylonitrile spot prices in Europe were assessed US$35 down a ton CIF Mediterranean during the week.

Courtesy: Weekly PriceWatch Report

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