Acrylonitrile prices surge on tight supply

The acrylonitrile markers gained US$20 a ton CFR Far East Asia and Southeast Asia in the second week of April. In China, offers for offshore cargoes were up US$20 a ton on the week. Prices for deep?sea cargoes were below that level.

Acrylonitrile prices in Asian markets rose for the second consecutive week on tight supply, which led to renewed buying interest from buyers and firmer cost support. In China, downstream demand picked up a bit as run rate at ASF producers was close to 100% while acrylamide prices held flat amid mild demand.

In US, acrylonitrile spot continued to trek up rising over the last three weeks after being flat to down for most of the first quarter. US acrylonitrile export assessment rose further US$10 a ton FOB USG on the week.

European acrylonitrile market developed bullish sentiment as maintenance may lead to need for imports. However, prices were flat, following increase last week. Acrylonitrile prices are likely to go up, as suppliers will attempt to raise offers. Spot prices remained flat at US$898-902 a ton CIF Mediterranean following a US$20 increase last week.

Courtesy: Weekly PriceWatch Report