Asian ACN markers jumped US$60-90 a ton CFR Far East Asia and Southeast Asia in the first week of June. In China, offers for offshore cargoes shot up on the week.
Acrylonitrile prices across markets jumped week on week amid tight supply, although propylene prices were a bit subdued.
In Asia, ACN price rose sharply as availability shrunk with no arbitrage cargoes heard offered in the market. In China, spot price moved higher, but capped by lukewarm downstream demand.
In US, acrylonitrile spot continued its upward trek as participants were bullish on the market, with expectations for pricing hitting US$1,100 a ton by July. US acrylonitrile export assessment surged US$40 a ton FOB USG on the week. Spot supply was tight due to some production outages from late Q1 into Q2.
European acrylonitrile prices climbed amid global supply crunch. European acrylonitrile spot prices jumped US$25 a ton CIF Mediterranean during the week.
Courtesy: Weekly PriceWatch Report
