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Chinese ACN market may consolidate further
09 Oct '12
1 min read
Acrylonitrile (ACN) market in China is likely to witness consolidation phase in the post holiday period.
Prior to the October holidays, China’s domestic ACN market showed weak correction, owing to several factors like increased supply at ports, lack of demand and lower price of imported goods. Buyers had adopted a wait-and-watch attitude and actual trading was light.
At ports in East China, spot ACN offers were slightly lower at 14,600 yuan/ton. However, profit margin was limited.
In the post-holiday period, Chinese ACN market price is likely to be based on slight fine-tuning and it is expected to extend consolidation phase.
Fibre2fashion News Desk - China
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