Asian acrylonitrile prices rose US$21 a ton CFR Far East Asia and CFR South East in the second week of June. In China, offers for offshore cargoes rolled over on the week.
Acrylonitrile prices gained in Far East Asia on tight supply while they remained flat in South Asia, SE Asia. Demand from acrylic fibre market remained low and changed marginally in South Asia and Southeast Asia that week. In China, ACN spot remained weak as demand remained sluggish in the whole.
In US, ACN spot was stable while an initial June CGP contract settled at a rollover. Constrained availability continued to limit transactions, keeping export prices from caving in to downward pressures from lower raw-material costs.
An US parcel was headed to Europe to ease tightness as the European market remained extremely short and fundamentals remained unchanged from last week. European spot prices inched up US$5 a ton CIF Mediterranean on the week.
Courtesy: Weekly PriceWatch Report
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