Asian marker, the CFR Far East Asia was up US$25 a ton in the second week of August. In China, offers for offshore cargoes were hiked US$30 a ton CFR. Acrylonitrile prices in Asian markets were lifted by tight supply and low inventory across supply chain. Although, Taekwang's upstream PDH unit restarted last week, supply availability remained limited.
In Europe, acrylonitrile price rose on bullish fundamentals as demand outweighed supply, which is currently tight. European acrylonitrile was also up US$20 a ton on the week.
In US too, tight supply pushed spot further upward to its highest level since March 2015. The US market remained notional and tough to peg due to limited supply availability. The uptrend appears set to continue into September. US export spot acrylonitrile assessment jumped US$50 a ton FOB USG, highest level since 24 March 2015.
Courtesy: Weekly PriceWatch Report
