Acrylonitrile prices increased week on week on strong feedstock prices
THE UNITED STATES acrylonitrile export price rose $50/mt week after week to be assessed at $1,470-$1,on Tuesday 480/mt FOB USG. A trade was noticed at $1,475/mt FOB USG with demand noticed increasing and offer talked tight. A resource cited higher costs from increasing feedstock propylene and ammonia agreements along with forthcoming turnarounds as the leading elements for the power in pricing. Tightness in the global market in addition has place pressure on ACN prices atlanta divorce attorneys major region. In Asia prices had been at a 23-month high, driven by comparable fundamentals of tight source, increasing feedstock propylene, and forthcoming turnarounds. ACN was assessed up $70/mt week after week at $1,470/mt CFR ASIA Asia. In European countries, ACN was assessed at $1,on Tuesday 430/mt CIF ARA, raising $30/mt on the week. In domestic prices, the united states acrylonitrile domestic contract evaluation remained stable at 60 cents/lb shipped. The domestic evaluation is a formula-based agreement cost using feedstock chemical-quality propylene and also ammonia, per market opinions. January US ammonia agreement prices settled at $267.50/mt, $32.from December 50/mt higher, a source stated. January US propylene agreement prices improved 10 cents/lb to 40 cents/lb for chemical-grade item, sources said. The propylene settlement puts agreement prices at their highest since October, when they had been at the same amounts, relating to S&P Global data.
Asian acrylonitrile prices jumped $70-$115/mt week after week Tuesday, hitting a 23-month high, driven by limited supplies globally and also high propylene feedstock price. Sentiment in the Asian ACN market remained company this week on the trunk of turnaround-led source tightness. China’s Shanghai Secco Petrochemical will shut its 260,000 mt/12 months ACN plant in Caojing from February 20 to March 25 for maintenance, sources near to the company said last Wednesday. The plant may be the old of Shanghai Secco’s two 260,000 mt/yr ACN vegetation in Caojing. The feedstock propylene market in addition has been strong this week. CFR China propylene rose $25/mt week after week to become assessed at $975/mt Tuesday, S&P Global Platts data showed. Global ACN markets have demonstrated a rising trend this year. Tuesday Last, the FOB USG ACN cost jumped $45/mt week after week to end up being assessed at a two season most of $1,425/mt, as the CIF ARA ACN cost spiked $90/mt to a record-high of $1,400/mt over the same period, Platts data demonstrated. Following a sharp price upsurge in the Asian ACN marketplace, the price pass on between ACN and propylene rose $70/mt week after week to a three-month most of $495/mt, Platts data demonstrated. Excited, market sources stated the Asian ACN marketplace would likely maintain its uptrend for another few months, driven by continued source tightness.
Acrylonitrile spot prices in Northwest Europe were assessed at $1,430/mt CIF ARA about Tuesday, up $30/mt in the week as bullish fundamentals continue steadily to push up prices. “Regretfully we are sold-out until April, ” a seller resource said on Tuesday, adding that provides had arrived at near to $1,440/mt CIF ARA this week amid limited supply. Trade resources indicated prices higher this week but trades weren’t heard amid too little material. “Prices increasing to $1,450–1,500/mt CIF ARA but I really do not need the material to market,” a trade supply stated. ACN prices continue steadily to rise on the next global maintenance period departing sellers wanting to secure product before it. Upcoming turnarounds consist of Japan’s Asahi Kasei and South Korea’s Tongsuh Petrochemical, which both intend to begin maintenance in-may. Option of deepsea cargoes to European countries will also be slice as three main US suppliers — Ineos Nitriles, Ascend Performance Components and Cornerstone Chemical substance — have turnarounds planned for April-May, sources said.
In Europe, Ineos Nitriles will perform maintenance at its 280 also, april 000 mt/yr Seal Sands acrylonitrile plant in northeast England commencing, a source near to the ongoing company said. Ineos Nitriles in addition has planned maintenance at small of its two ACN creation lines at its 340,000 mt/season plant in Cologne, Germany, for about two weeks, the foundation added. In other information, Russian exports of acrylonitrile in 2016 increased 19% year on calendar year to 153,778 mt, tuesday customs data showed. Northwest Europe took 63% of Russia’s ACN exports in 2016, up from 31% in 2015. Prices in Northwest European countries rose 32% in 2016 on source cuts amid prepared and unplanned maintenance function and globally increasing feedstock costs. Rationale: ACN was assessed in $1,on Tuesday 430/mt CIF ARA, increasing $30/mt on the week. Indications had been heard at $1,400–1,500/mt CIF ARA this complete week, with sell suggestions heard converging at $1,450/mt. CSG assessed below nearly all firm sell concepts, but higher on the entire week, amid a strong marketplace and expectations of restricted source globally on maintenance fundamentally.
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