Asian acrylonitrile markers plunged US$50 and US$38 a ton CFR Far East Asia and Southeast Asia respectively in the last week of September.

In China, spots offers fell US$50 a ton.

Acrylonitrile prices in Asian markets tanked reflecting the plunge in feedstock propylene cost in the third week. Ample supply in China also pulled down prices amid weak demand.

Downstream, styrene monomer was assessed down over the same period while ABS prices are expected to soften in October due to weak demand and raw material prices.

In US, demand for acrylonitrile was slow to steady, with a producer finding demand in downstream fiber markets healthy. Demand from ABS was also slow on an average. Export assessment fell US$20 a ton FOB USG.

European acrylonitrile price fell following feedstock propylene cost. Spot price declined US$30 a ton CIF Mediterranean on the week following October propylene settlement down Euro110 a ton.

Courtesy: Weekly PriceWatch Report