Japan's Asahi cuts Oct ACN nomination by $210/t

06 October 2008 08:16  [Source: ICIS news]

SINGAPORE (ICIS news)--Japanese producer Asahi Kasei has reduced its October Far East Contract Price (FECP) nomination for acrylonitrile (ACN) by $210/tonne to $2,140/tonne CFR (cost and freight) Asia from September due to weak demand, traders said.

Asahi’s September FECP nomination was $2,350/tonne CFR Asia.

The price fall reflects the weak ACN market due to falling demand from downstream acrylic fibre (AF) and acrylonitrile butadiene styrene (ABS) plants that have cut operating rates due to the slowing global economy.

"The ACN market is likely to remain weak in light of the current bearish market sentiment amid the financial turmoil in the US and Europe," a trader said.

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By: Helen Yan
+65 6780 4359

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