In the second week of February, Asian acrylonitrile CFR Far East Asia and Southeast Asia prices jumped 3-5% on the week. Asahi Kasei nominated ACN contract price for February which was up US$130 a ton CFR Far East from January. In India, ACN prices surged US$250 a ton on the week.
Acrylonitrile prices in Asian markets surged ahead of turnaround season in the second quarter and looming maintenance limited supply. Feedstock propylene cost also rose supporting downstream derivatives.
European ACN prices surged as imports were scarce amid firm global price. Sellers were keen to hold material for sale expecting higher prices in coming weeks. European acrylonitrile spot prices were up US$80 a ton CIF ARA on the week. February contract settled at an increase of Euro 75 a ton.
In US, ACN spot surged tracking feedstock as ammonia contract settled up on the month. US acrylonitrile export assessment jumped US$45 a ton FOB USG on the week.
Courtesy: Weekly PriceWatch Report
