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China's ACN market witnesses slight consolidation
Jan '13
Slight consolidation was witnessed in China’s domestic acrylonitrile (ACN) market during last week.
In spot market, offers for high-end ACN eased, but there was no significant negative pressure on manufacturers to reduce prices.
At ports in East China, ACN prices were quoted in the range of 13,400-13,500 yuan/ton, in terms of shipment by buyers. However, transactions were limited and negotiations centred around 13,300 yuan/ton.
Offers from domestic ACN manufacturers were stable in the range of 12,800-13,400 yuan/ton. The inventory level with manufacturers was low and they showed strong intention to maintain the prices at higher levels.
In Shandong market, traders quoted prices of around 13,600 yuan/ton for spot goods, in terms of shipment by sellers. However, trading atmosphere remained dull.

Fibre2fashion News Desk - China

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