Acrylonitrile prices in Asian markets plunged further in the last week of August amid poor demand and falling upstream feedstock cost. Propylene prices were down US$66 on the week. Supplies in China increased with Shanghai Secco restarting one of its ACN lines. Downstream demand remained weak as run rate at ASF producers was modest while ABS market remained insipid. Acrylamide producers also ran with reduced operating rates on poor demand.
Asian acrylonitrile marker fell US$50 a ton both CFR Far East Asia and Southeast Asia. In China, spot offers were down US$40 on the week.
In US, acrylonitrile spot continued to slide, touching a 6-year low on lower feedstock chemical grade propylene cost. Domestic assessment fell US cents 5.25 per pound on the week delivered while export assessment dropped US$30 a ton FOB USG.
European spot acrylonitrile price continued to fall on weak demand and falling feedstock while supply remained solid. Acrylonitrile spot prices in Europe moderated US$10 a ton CIF on the week.
Courtesy: Weekly PriceWatch Report
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