The CFR Far East Asia, the Asian ACN marker, was flat in the second week of July while Southeast Asia was stable on the week. In China, offers for offshore cargoes rolled over during the week.
Acrylonitrile prices in Asia remained flat amid thin trade as weak demand in China stalled activity. In US, acrylonitrile spot was steady amid thin trade throughout the week, with sellers more bullish on the market and expecting pricing to rise on expectations of turnarounds in Asia later in the year.
INEOS Nitriles declared FM on acrylonitrile supply from its Green Lake plant in US, due to disruption in feedstock supply.
In Europe, acrylonitrile prices stabilized amid bearish forces and tight supply was met by decreasing export to Asia. Feedstock costs indicated decline in August. July contract prices increased, broadly in line with feedstock cost.
In US, export pricing remained unchanged on the week.
Courtesy: Weekly PriceWatch Report
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