Asian acrylonitrile marker, the CFR Far East Asia was flat in the fourth week of March while Southeast Asia rolled over during the week. In China, sporadic offers for offshore cargoes were down, but buyers were mainly on the sideline.
Acrylonitrile prices in Asian markets remained unchanged in a thinly traded and holiday shortened week. Upstream propylene markets also held steady while market participants were at US conference. In China, prices inched down that week as some suppliers lowered their offers.
In Europe, fewer import offers for acrylonitrile were heard allowing regional price to rise. Prices moved up following US and Asian numbers while feedstock propylene was showing increases globally. European acrylonitrile spot prices jumped US$30 a ton CIF Mediterranean on the week.
In US, acrylonitrile domestic prices rose on feedstock propylene while the upward pressure on spot was expected as chemical-grade propylene settled up. US acrylonitrile export assessment was flat on the week while domestic assessment rose US cents 1.75 per pound.
Courtesy: Weekly PriceWatch Report
