Asian acrylonitrile markers CFR Far East Asia jumped US$70 a ton in the last week of September while Southeast Asia rose by a sharp US$35 a ton on the week. In China, offers for offshore cargoes up US$25 a ton CFR on the week.
Acrylonitrile prices in Asian markets shot up on the week as supply tightened dramatically. South Korea’s Tongsuh Petrochemical will shut its 245,000 ton a year ACN unit in Ulsan from mid-October for scheduled maintenance.
In US, there was no change in ACN price talks, but higher pricing in September propylene contracts could translate to higher acrylonitrile pricing in October amid stable fundamentals.
European prices were flat on low liquidity although global markets remained tight. Downstream fibre producers were struggle on low production spreads. September contracts were agreed at an increase, a result of tight global supply.
Courtesy: Weekly PriceWatch Report
