Asian markers were down US$5 a ton CFR Far East Asia and Southeast Asia in the last week of October. In China, offers for offshore cargoes remained unchanged on the week.
Acrylonitrile prices edged down in Asian markets, after remaining firm past four weeks, as demand weakened from downstream acrylic fibre makers while upstream propylene cost declined sharply.
Meanwhile, Taiwan-based China Petrochemical Development Corp shut its 240,000 ton a year ACN plant for scheduled maintenance.
In US, spot was steady on limited trade and tight supply, which continued to affect both domestic and overseas markets. Thus, export assessment fell week on week. Export assessment fell US$5 a ton FOB USG and spot prices were stable on the week.
European spot dipped on softening demand as fibre producers continued to struggle. Contract price for October was settled at an increase of Euro32 a ton.
Courtesy: Weekly PriceWatch Report
