26 October 2010 07:44 [Source: ICIS news]
SINGAPORE (ICIS)--Chinese domestic acrylonitrile (ACN) prices are likely to rise further on improved demand and tight supply, industry sources said.
Chinese domestic ACN prices have increased by more than yuan (CNY) 500/tonne ($75/tonne) since early October to CNY 17,800-18,000/tonne ex-tank this week, according to data from ICIS.
“We expect Chinese domestic ACN prices to rise above CNY 18,000/tonne as demand for ACN picks up,” a trader said.
Chinese demand for ACN had picked up due to the improved downstream acrylic fibre (AF) and acrylonitrile-butadiene-styrene (ABS) markets, traders said.
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Chinese domestic AF prices have also increased to CNY 22,000/tonne ex-works this week, up CNY 500-1,000/tonne from the end September while the other derivative ABS prices have since gone up by CNY 600-700/tonne to CNY 17,550-18,000/tonne delivered, according to data from ICIS.
In the meantime, local ACN supply has tightened with two Chinese ACN plants down for maintenance in October.
PetroChina subsidiary, Jilin Petrochemicals, has shut down three of its total of four ACN lines for maintenance.
Another local producer, Fushun Petrochemical, has also shut down its 92,000 tonnes/year ACN plant in
($1 = CNY6.66)
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