European acrylonitrile price hits 8-month high amid tight supply

YarnsandFibers News Bureau 2016-06-02 03:36:28 –

European acrylonitrile spot prices were assessed at US$1,008-1,012 a ton CIF Mediterranean, an increase of US$30 in the third week of May. European acrylonitrile hit 8-month high on lack of availability while demand for imports in Asia was rising.

In US, spot supply was tight due to some production outages from late Q1 into Q2, but those have now been resolved. Spot was also supported by the global upticks. US acrylonitrile export assessment gained another US$30 a ton FOB USG on the week.

Asian acrylonitrile markers gained US$10 a ton CFR Far East Asia and Southeast Asia in the third week of May.

In China, spot price rose as propylene cost held firm while ACN supply remained tight. Offers for offshore cargoes were up US$20-60 a ton CFR China on the week.

Acrylonitrile prices were firmer that week across Asian markets, boosted by dearth of supply in Taiwan and China supporting Northeast prices. Deepsea cargoes were heading Southeast Asia and India for July/August delivery.

Courtesy: Weekly PriceWatch Report

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