Prices for US acrylonitrile were assessed $127/mt lower week on week despite higher nominations for August propylene contracts. Propylene contracts were nominated 2 and 3 cents/lb higher for August, despite a drop in the spot market where refinery grade traded down to 68 cents/lb. Chemical grade propylene is generally at about a 6-cent premium to RGP. Prices for ACN exports were talked in a range of $2,225-$2,240/mt FOB. One source mentioned that the lower acrylonitrile prices in the market would not continue to decrease so rapidly as the market was slowly becoming balanced. The source said if the market weakens further operating rates could be cut to tighten supply and keep prices from falling.
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