Asian acrylonitrile marker the CFR Far East Asia jumped US$80 a ton while Southeast Asia was up US$20 a ton in the second week of December.
In China, offers for offshore cargoes were up US$50 a ton on the week.
Acrylonitrile prices in Asian markets were driven by demand for scarce prompt cargoes. At the same time, domestic prices in East China hovered at around import parity basis.
Because of the import parity level, several producers estimated offers would be higher than CFR Far East.
In US, acrylonitrile spot held on stable fundamentals while sentiment remained mixed as if the market had hit a floor in October. Export prices remained flat on the week to an assessment of US$825-835 a ton.
Lower pricing may be possible as only Far East prices had jumped, and European pricing was stable to down and prices elsewhere in Asia were rising at a slower rate before that week.
Steady demand and unchanged supply kept European acrylonitrile prices flat week on week.
In Europe, acrylonitrile spot prices held steady at US$898-902 a ton CIF Mediterranean.
Courtesy: Weekly PriceWatch Report
