Turkey ACN producer pushes for higher prices

19 October 2007 17:04  [Source: ICIS news]

LONDON (ICIS news)--Turkish acrylonitrile (ACN) producer Petkim was reported to be holding a sales tender on Friday for 1,500-2,000 tonnes, traders reported on Friday.

Traders indicated the decision to tender was in response to a downturn in demand from domestic fibre producers, although this could not be confirmed on the sell-side in Turkey.

One Turkish buyer indicated it was still receiving contract supplies at normal volumes.

Apparent indications from Petkim pointed to very high target price of $1,940/tonne (€1,358/tonne) FOB (free on board), a price unworkable on the Europe spot market, hence traders said it was likely that the product would be sold into Iran where product could be sold at a premium.

Petkim has the capacity to produce 90,000 tonnes/year at its Aliaga complex in Izmir.

($1 = €0.70)

By: Mike Nash
+44 20 8652 3214

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