Asahi Kasei hikes Aug ACN contract nomination by $50/tonne

06 August 2009 04:15  [Source: ICIS news]

SINGAPORE (ICIS news)--Japanese producer Asahi Kasei Co has increased its August nominated price for acrylonitrile (ACN) by $50/tonne (€34.5/tonne) from July due to escalating upstream costs, a company source said on Thursday.

“Crude has gone up to $71/bbl while naphtha has hit $650/tonne and propylene has climbed above $1,000/tonne. All these rising production costs have given us no choice but to increase our August contract price,” the source added.

The August Far East Contract Price (FECP) nomination was $1,450/tonne CFR (cost and freight) Asia, up $50/tonne from its July FECP of $1,400/tonne CFR Asia.

($1 = €0.69)

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By: Helen Yan
+65 6780 4359

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