The CFR Far East Asia, the Asian ACN marker, was up US$5 a ton in the first week of July. In China, offers for offshore cargoes were stable during the week. Acrylonitrile prices inched up further in Asian markets that week as supply in Northeast Asia remained tight due to various plant shutdowns. In China, spot markets softened slightly that week, though majors offered flat.
In Europe, acrylonitrile prices were assessed up as feedstock cost increase appear passed to spot price while high global prices placed little pressure on European market. European acrylonitrile was up US$15 a ton on the week.
In US, acrylonitrile spot was stable as fundamentals remained flat and demand was characterized as steady in both the domestic and export markets. Spot supply is expected to remain tight through August as sellers have sold product in advance.
Courtesy: Weekly PriceWatch Report
