In US, acrylonitrile domestic price rose to one-year high amid stable export and limited spot supply in the fourth week of August which ended on 26th August 2016. The market was quiet due to lack of available spot. Domestic assessment was up US cents 3.5 per pound USG on the week.
Asian markers, jumped US$50 a ton the CFR Far East Asia and Southeast Asia in the fourth week of August. In India, the CFR values climbed on the week. In China, offers for offshore cargoes were up US$50 a ton CFR. Acrylonitrile prices rose across the board that week in Asian markets as supply remained tight.
Indian demand boosted prices across Asia while demand in China was thin as buyers chased local supply. In China, spot values were however, pushed higher amid limited availability.
As global picture turned bullish, European acrylonitrile spot prices were assessed flat on the week while September is expected to see higher pricing on and feedstock propylene cost increasing.
Courtesy: Weekly PriceWatch Report
