Asian acrylonitrile prices jumped US$50-70 a ton CFR Far East Asia and Southeast Asia in the third week of February. Indian ACN prices surged US$50 a ton on the week.
Acrylonitrile markets sentiment in Asia remained firm that week on the back of turnaround-led supply tightness. In China, availability remained limited, and sellers were in no hurry to sell. China's Shanghai Secco Petrochemical will shut its 260,000 ton a year ACN plant in Caojing from February 20 to March 25 for maintenance.
European spot ACN climbed amid market tightness meanwhile market participants were watching developments in upstream propylene market. Sellers were sold out for forward months while offers had arrived at close CIF ARA that week amid tight supply. European acrylonitrile spot was up US$30 a ton CIF ARA on the week.
In US, ACN spot rose on tight supply as global supply tightness persisted. US acrylonitrile export assessment jumped US$50 a ton FOB USG on the week.
Courtesy: Weekly PriceWatch Report
