Asian ACN marker, the CFR Far East Asia was flat in the fourth week of June while Southeast Asia were down US$10 a ton on the week. In China, offers for offshore cargoes were up US$20 a ton CFR during the week.
Acrylonitrile prices in Asian markets were stable on the week amid thin trade following three-day holidays in China and increased supply with the restart of PTT Asahi Chem plant opening the week. In China, spot prices seemed to be losing strength that week. CPDC will raise run rate to average 90% over June-August period.
In Europe, acrylonitrile prices jumped on tight supply as maintenance at Ineos’ Seal Sands plant continued. European acrylonitrile spot prices jumped US$40 a ton CIF Mediterranean, taking the total surge to US$65 in two weeks.
In US, acrylonitrile spot was steady although tight supply prevailed. Spot pricing were higher over the last three months due to tighter supply and climbing prices in Asia.
Courtesy: Weekly PriceWatch Report
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