In US, acrylonitrile spot rose in the first week of February after feedstock climb as January propylene contract was settled up. Thus, feedstock gains applied upward pressure. US acrylonitrile export assessment rose US$90 a ton FOB USG on the week.
In Europe, short supply with limited imports from US and higher production with propylene rising acrylonitrile spot prices were assessed 7% up on the week. European acrylonitrile spot prices were up US$90 a ton CIF ARA on the week.
Acrylonitrile prices in Asian markets were flat in the first week of February amid thin trade while limited supply from looming turnarounds was offset by weak demand amid Lunar New Year holidays. Meanwhile, weak acrylic fiber markets dampened demand. In China, offers for offshore cargoes rolled over on the week. In India, ACN prices were held stable during the week.
Courtesy: Weekly PriceWatch Report
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