In the third week of September, Asian acrylonitrile markers fell US$15-25 a ton both CFR Far East Asia and Southeast Asia. In China, spots offers were down US$100 a ton.
Acrylonitrile prices in Asian markets were under falling cost pressure amid weak demand. Upstream propylene prices continued to soften, with further drops expected. While there were few cargoes arriving ports, markets were well supplied.
Run rate at ASF units was close to 100 per cent while ABS prices inched down. Acrylamide producers ran at reduced rates on poor end user demand and thin trades.
In US acrylonitrile spot hovered near 77-month low with assessment at its lowest level since end April 2009. Spot assessment fell US$10 a ton FOB USG on the week.
European acrylonitrile also fell on lower feedstock and poor demand as buying was heard to be mute. ACN markets are expected to remain weak in coming week. Spot price fell US$30 a ton CIF Mediterranean on the week, pressured by lower feedstock propylene price which fell Euro211 a ton in the second week.
Courtesy: Weekly PriceWatch Report
