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Asian acrylonitrile producers at wits end
21
Jul '09
According to reports, as a result of rising price of raw materials of propylene, profits of acrylonitrile industry has seen serious erosion and it is expected that acrylonitrile producers in Asia will further cut production.

Acrylonitrile producer Asahi Kasei Corporation in Japan and China Petrochemical Development Corporation (CPDC) in Taiwan say that high propylene price have squeezed out their profits.

With the result that, they have no other option, but to cut operation rates as prices of acrylonitrile have not been able to keep pace with the flare up in its feedstock raw material; Propylene.

Propylene price has risen to US $1000-1045 per ton (CFR Northeast Asia), up $150 per ton from the previous month. On the contrary, since early May, acrylonitrile price have increased to just $1150-1200 per ton (CFR) in the past two months.

Since then they had maintained stability and prices of acrylonitrile had marginally increased to $1180-1230 per ton (CFR Northeast Asia) in the previous week.

Asahi Kasei in Japan which has an acrylonitrile production line of 150,000 tons per year in Kawasaki and a plant of 300,000 tons per annum in Water Island has maintained an average operation rate at 85 percent.

CPDC which also has an acrylonitrile plant of 190,000 tons per year in Kaohsiung, Taiwan is also now running the plant at 95 percent of its production capacity.

Fibre2fashion News Desk - China

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