Acrylonitrile prices plunge in US, Europe

Asian ACN prices edged up US$6 a ton CFR Far East Asia while Southeast Asia was down US$20 a ton in the fourth week of November.

Acrylonitrile prices were mixed that week in Asian market where they tumbled in South Asia and edge higher in Far East Asia with ABS market supporting the latter. Demand was weak in India on low acrylic fibre prices. In China, spot prices were range bound that week as downstream demand was stable.

In US, export assessment fell on the week as upstream pricing declined in H1 November. The decrease was in line with expectations, as a rise in December ammonia prices was not enough to offset the significant decrease in propylene. US acrylonitrile export assessment plunged US$90 a ton FOB USG on the week. Export contract price was down US cents 4 per pound in November.

In Europe, acrylonitrile prices continued to fall as demand from acrylic fiber producers declined and lower priced overseas material continued to add downward pressure. European prices were down US$25 a ton CIF Mediterranean on the week. Initial November contract was agreed at plus Euro25 a ton.

Courtesy: Weekly PriceWatch Report