Asian acrylonitrile prices declined in the first week of August with CFR Far East Asia down US$10 a ton while CFR South East fell US$5 a ton. Acrylonitrile prices were down in Asian markets despite high upstream cost while active purchasing was witnessed in the markets during the week.
China’s Jiangsu Sailboat Petrochemical postponed the maintenance at its 260,000 ton a year acrylonitrile plant at Lianyungang in Jiangsu province amid improved margins. Meanwhile, India’s import of acrylonitrile reduced by 29 per cent year on year to 5,660 ton in May.
In US, acrylonitrile spot declined amid improved availability after Q2 turnarounds, but overall supply remains on the tight side. Although some producers had some ACN to offer in the export spot market. US acrylonitrile export price plunged US$40 a ton FOB USG on the week.
In Europe, acrylonitrile prices were down taking cues from Asian markets. Spot were down US$20 a ton CIF Mediterranean on the week.
Courtesy: Weekly PriceWatch Report
