Acrylonitrile: Asia

摘要

Asian acrylonitrile prices fell $170/mt week on week Tuesday to $2,190/mt CFR Far East Asia. In the Southeast Asian market, prices fell $145/mt week on week to $2,220/mt CFR, while prices in South Asia fell $170/mt to $2,150/mt CFR. Sources attributed the declines to falling demand and said ACN producers would have to consider lowering operating rates. "It's likely that I have to cut operating rates in May, but we are still in the midst of discussion," one producer said. Demand for ACN has been weak, particularly in China, as export orders to the US and Europe has been dismal. In addition, domestic demand within China was noted to have fallen. "There are just simply no buyers because the downstream markets are really weak. I don't think anyone would buy, even if someone offered at $2,200/mt," a Chinese source said. Traders said the downtrend in prices is likely to persist for the next few months, until July or August, when prices typically rise due to seasonality factors.