Asian acrylonitrile markers the further moderated US$30 a ton CFR Far East Asia and Southeast Asia in the first week of January.
In China, offers for offshore cargoes were flat at US$1,150-1,200 a ton as buyers bought hand to mouth, and were noncommittal to deep-sea cargoes due to long freight period.
Acrylonitrile prices in Asia fell further amid thin activity and on concerns of fresh supplies in China.
A plant began trial operations in mid-December 2015 and several market participants reported that it had sold several test cargoes to fiber producers in Ningbo to ascertain the quality of its ACN. Thus, suppliers slashed spot offers this week.
Spot market remained insipid while wait-and-watch sentiment grew as price drop accelerated.
European acrylonitrile prices were assessed flat on the week amid modest demand.
In US, export pricing was up despite arbitrage window to Europe remained closed. Export prices gained US$10 a ton.
Courtesy: Weekly PriceWatch Report
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