Acrylonitrile prices surge amid tight supply

YarnsandFibers News Bureau 2016-05-12 05:02:20 –

The acrylonitrile markers gained US$20 a ton CFR Far East Asia and Southeast Asia in the last week of April.

In China, offers for offshore cargoes were up US$40 a ton CFR China on the week. Prices for deep?sea cargoes were below that level.

Acrylonitrile prices in Asian markets rose on the week as supply was still tight with few deepsea offers. Upstream, propylene cost was also on the rise supporting downstream sector.

Prices continued to track higher across all markets. In China, spot prices held firm that week and majors offered flat.

In US, acrylonitrile spot jumped to a six-month high the level since the week one of October. US acrylonitrile export assessment rose US$20 a ton FOB USG during the week.

European acrylonitrile market was in balance amid opposing influence and bearish expectation on feedstock propylene. However, fundamentals looked strong in April.

Courtesy: Weekly PriceWatch Report

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