Asian acrylonitrile prices declined US$20 a ton CFR Far East Asia while South East rolled over in the last week of April. In China, offers for offshore cargoes were flat during the week.
Acrylonitrile prices fell in Asian markets on weak demand and falling cost support. Spot ACN prices in China softened during the week as market was dominated by pessimistic outlook, with traders getting more aggressive. Downstream demand was lusterless with ASF makers running at 87%, amid weak demand. ABS held stable amid insipid trades while acrylamide offers were reduced.
European ACN prices fell from their peak but are expected to remain strong in coming weeks as Ineos declared FM at its Seal Sands unit. ACN markets are likely to soften further in May. Spot prices were both down US$10 a ton CIF Mediterranean and CIF ARA on the week.
In US, ACN spot was stable amid thin exports but exports to UK may pick up amid local force majeure.
Courtesy: Weekly PriceWatch Report
