Asian acrylonitrile prices gained US$20 a ton CFR Far East Asia in the second week of March while Southeast Asia was up US$40 a ton on the week. In China, offers for offshore cargoes were up US$40 a ton during the week while Indian ACN prices were flat on the week.
Acrylonitrile prices continued to increase across regions, with spot prices in Asian assessed higher from the previous week on firm demand and tightening supply. Taiwan’s CPDC plans to shut its plant in end-March while Taiwan’s Formosa restarted its plant on Monday.
In China, spot prices held firm although transaction was less active amid dampened buyers’ confidence. Sinopec raised spot offers across all branches.
In US, ACN spot touched a fresh 25-month high as supply tightness elevated pricing while participants looked towards imports. Acrylonitrile export price also rose US$60 a ton FOB USG on the week.
European ACN prices jumped another US$50 a ton CIF Mediterranean on the week.
Courtesy: Weekly PriceWatch Report
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