24 October 2008 18:15 [Source: ICIS news]
HOUSTON (ICIS news)--US acrylonitrile (ACN) export price ideas were falling rapidly as buyers sat on the sidelines for the fourth consecutive month and watched feedstock values and demand plummet, market sources said on Friday.
“What can I say? It’s horrendous, God-awful. Nobody’s buying, no deals are being done,” one trader said.
A cargo of ACN was offered at $1,780/tonne (€1,388/tonne) CFR (cost and freight) during the week but was rejected for being too expensive, the trader said.
No word was given about the cargo’s country of destination.
The US ACN export spot market has been dormant since June, when two transactions were carried out at $1,975-2,020/tonne FOB (free on board) USG (US Gulf).
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($1 = €0.78)
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