Acrylonitrile prices flat to down in Asia

Asian ACN CFR Far East Asia marker was flat in the first week of December while Southeast Asia fell US$20 a ton on the week.

In China, offers for offshore cargoes were down US$30-40 a ton during the week. US acrylonitrile export assessment fell by a sharp US$120 a ton FOB USG on the week.

Acrylonitrile prices were flat to lower in Asian markets amid thin trading as Chinese buyers expected deep-sea cargoes. In China, spot prices held stable that week amid thin liquidity, and most of suppliers offered flat in a lack of pushes and pulls.

Downstream demand was stable as ASF suppliers ran at 75% capacity while ABS sentiment improved on cost support.

In US, spot ACN fell week on week as feedstock December contract was expected to fall while arbitrage window to Asia remained open.

In Europe, acrylonitrile demand remained subdued on derivative imports as domestic production was slow. European prices declined US$20 a ton CIF Mediterranean on the week. An initial November contract was agreed at plus Euro25 a ton.

Courtesy: Weekly PriceWatch Report