Acrylonitrile prices sinks as demand weakens

YarnsandFibers News Bureau 2015-10-08 05:41:03 –

In the fourth week of September, Asian acrylonitrile markers slumped US$46 a ton both CFR Far East Asia and Southeast Asia. In China, spots offers rolled over.

Asian acrylonitrile prices continued to march lower amid persistently weak demand. Traders followed prevailing price level while buyers bought hand to mouth.

Downstream demand was lukewarm as run rate at ASF makers was close to 100 per cent while ABS market held stable in spite of lower prices in a few cases.

Acrylamide producers reduced operating rates on poor end user demand and thin trades.

In US, domestic price fell to over-74-month low with spot reaching lowest point since 2009. Export assessment fell US$20 a ton FOB USG on the week. US domestic assessment fell US cents 3.5 per pound.

European acrylonitrile spot prices were stable as demand remained flat following recent drop in propylene prices. Market outlook appears less optimistic with propylene slumping.

Courtesy: Weekly PriceWatch Report

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