Asian acrylonitrile prices surged US$50 a ton CFR Far East Asia in the first week of March while Southeast Asia was up US$10 a ton on the week. In China, offers for offshore cargoes were up US$10 a ton while Indian ACN prices were flat on the week.
Acrylonitrile prices in Asia rose to a two-year high and may continue their uptrend in the near term on the back of rising production cost and tight supply. The CFR China hits highest since February 2015 as supply tightness to continued. Downstream demand was stable as ASF suppliers ran with almost full capacity while ABS producers ran at 85% capacity.
In US, acrylonitrile spot touched a 2-year high on tight supply while export availability was described as non-existent, amid upcoming turnaround season. Acrylonitrile export price also rose US$50 a ton FOB USG on the week.
In Europe, acrylonitrile sellers were sold out for March and ahead as global prices increases prevented imports. European acrylonitrile jumped US$50 a ton CIF Mediterranean on the week.
Courtesy: Weekly PriceWatch Report
