Asian acrylonitrile prices were up US$75 a ton CFR Far East Asia in the last week of August while CFR South East rose US$45 a ton. In China, offers for offshore cargoes were flat on the week at US$1,500-1,550 a ton while prices in India were at US$1,400-1,450 a ton.
Acrylonitrile prices in Asian markets rose on high propylene cost and limited product availability in the region. ACN prices surged overwhelmingly with little resistance, which makes it hard to predetermine the peak.
In US, export spot prices continued to trend higher as Asian values rose further, feedstock propylene increased, and still-tight ACN supply was exacerbated by shutdowns and a force majeure because of Harvey Hurricane. US acrylonitrile export price were hiked US$60 a ton FOB USG during the week.
In Europe, spot ACN prices were up as upstream costs marched upward and global tightness in supply worried the market. Spot was up US$10 a ton CIF Mediterranean on the week.
Courtesy: Weekly PriceWatch Report
