Asian acrylonitrile prices remained flat in the third week of May. In China, offers for offshore cargoes rolled over while Indian ACN were stable on the week.
Acrylonitrile prices were stable in Asian markets amid a wide buy-sell gap as the disparity between bids and offers weighed on demand and hindered trading, particularly in China where supply was ample and domestic prices were lower than import values. Overall demand was lusterless.
In US, ACN spot was down as feedstock propylene May contract price dropped while exports are expected to remain limited until August. ACN export price was down US$10 a ton FOB USG on the week.
In Europe, lack of spot ACN supply supported prices to remain high, but Ineos' UK plant expected back in production and less bearish propylene's outlook will pressure price down soon.
Courtesy: Weekly PriceWatch Report
