US Oct ACN contracts rise on feedstock CGP

01 November 2007 20:56  [Source: ICIS news]

HOUSTON (ICIS news)--US acrylonitrile (ACN) formula-based October contract prices rose by 3.30-3.34 cents to 69.82-73.64 cents/lb ($1,539-1,623/tonne) DEL (delivered), market sources said on Thursday.

The October ACN increase from September levels was due to a 3 cents/lb increment in feedstock October chemical-grade propylene (CGP) contracts, sources said.

US CGP producers have nominated increases of up to 9 cents/lb November. The initiative is being driven by supply constraints and soaring prices of feedstocks and crude oil, source said.

Prices for feedstock ammonia, a smaller portion of the formula, remained stable with a $1.50/short ton increase during October.

ACN spot prices were in a range of $1,825-1,850/tonne FOB (free on board) USG (US Gulf), according to global chemical market intelligence service ICIS pricing.

Tight supplies, coupled with higher feedstock costs, have catapulted ACN spot prices to record levels in the past few months.

ACN producers in the US include Cytec, DuPont, INEOS and Solutia.

By: Tracy Dulle
+1 713 525 2653

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