SAN prices up ahead of Lunar New Year holidays

12 January 2006 09:31  [Source: ICIS news]

SINGAPORE (ICIS News)--Styrene acrylonitrile (SAN) prices rose $20/tonne to $1,290-1,320/tonne CFR China this week ahead of the Lunar New Year holidays, producers and traders said on Thursday.

"Demand has improved compared with December when trades were very slow," said a Korean SAN producer, who has raised offers by $30/tonne this week to $1,350/tonne CFR China.

One trader said some pre-buying interest ahead of the end-January festive season would emerge by next week.

"Buyers have to return to the market to replenish stocks before they leave for the Lunar New Year holidays. We expect demand to strengthen over the next week or so before it tapers off in the run-up to the holidays," he said.

Higher crude values and firm feedstock styrene monomer (SM) prices also helped to boost SAN prices. Nymex crude futures breached $64.00/bbl last week and SM continued to hold firm around $1,050/tonne FOB Korea.

By: Helen Yan
+65 6780 4359

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