US acrylonitrile spot surged to one-year high on supply outage, the highest level since 7 July. Spot spiked US$125 a ton FOB USG in the third week of July, which ended on 22nd July 2016.
European acrylonitrile prices rose despite Ineos restarting Seal Sands ACN plant and imports in January-May rising 12% year-on-year. European acrylonitrile was up US$20 a ton on the week.
Asian ACN marker, the CFR Far East Asia was up US$5 a ton while Southeast Asia surged US$56 a ton in the third week of July. Acrylonitrile prices in Asian markets spiked following force majeure declared by US based Ineos Nitriles out of its 450,000 ton a year Green Lake, Texas, facility last week.
Most of Asia, especially the Southeast Asia and India markets felt the impact, while China was relatively shielded by its well supplied domestic market. In China, spot market was lusterless, with majors offering flat.
Courtesy: Weekly PriceWatch Report
