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Chinese ACN market continues to consolidate
18
Sep '12
China’s domestic acrylonitrile (ACN) market is continuing to consolidate with manufacturers maintaining steady production and shipments being normal.
 
Currently, ex-factory ACN prices are in the range of 13,800-14,500 yuan/ton.
 
In Shandong market, ACN spot prices are quoted in the range of 14,800-14,900 yuan/ton, in terms of delivery at buyer’s destination.
 
At ports, ACN offers are in the range of 14900-15000 yuan/ton, and some high-end offers are at prices more than 15,000 yuan/ton.
 
However, actual discussions remain flat and transactions are few, as downstream manufacturers are purchasing goods in accordance with their current demand.
 
The market is supported by higher offers from traders as well as foreign supply, but it lacks demand at higher prices.
 
ACN supply is steady and some recently expanded capacities are soon expected to become operational. So, continuous increase in market prices would be restricted. 
 
However, the market would remain in consolidation phase in short-term, as there is no downward pressure at the moment.
 

Fibre2fashion News Desk - India

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