Asian ACN prices plunged US$49 a ton CFR Far East Asia in the third week of November while Southeast Asia down US$45 a ton on the week.
Acrylonitrile prices in Asian markets declined sharply on the week on thin demand, supply returning after completion of turnarounds and moderating deepsea offers. However, producers were reluctant to lower offers.
In US, acrylonitrile spot rolled over in steady markets. Demand was stable while supply remained tight. Prices are likely to fall on expectations that supply tightness may ease in the near future. The recent downward movement in propylene during October-November weighed on pricing.
European prices fell on slowed demand from major derivatives in the region and Asia. An initial November contract was agreed at an increase. European prices were US$65 down a ton CIF Mediterranean on the week. Initial November contract was agreed at plus Euro25 a ton.
Courtesy: Weekly PriceWatch Report
