The CFR Far East Asia marker gained US$10 a ton in the last week of May while Southeast Asia was up US$15 a ton.
In China, offers for offshore cargoes shot up US$70 a ton CFR China on the week.
Acrylonitrile prices rose across the Far East Asia, Southeast Asia and South Asia markets amid dearth of supply.
Tight supply in China triggered price hike while deepsea cargoes stem sharper hikes in SEA/India. In China, spot prices continued to march north while Sinopec raised offer for eastern China market.
Maintenance season, both in Asia and Europe continued to lift European acrylonitrile prices. European acrylonitrile spot prices rose US$15 a ton CIF Mediterranean on the week.
In US, spot assessment marked its highest level of the year, hitting US$1,000 a ton mark for the first time since August 2015. Supply is likely to tighten further given suppliers’ maintenance plans ahead. US acrylonitrile export assessment jumped US$25 a ton FOB USG during the week.
Courtesy: Weekly PriceWatch Report
