China ACN dips $15/tonne on ample supply, lacklustre demand

14 April 2011 12:17  [Source: ICIS news]

SHANGHAI (ICIS)--China’s domestic acrylonitrile (ACN) prices slipped for the first time in more than two months, falling CNY100/tonne ($15/tonne) on Thursday, as demand weakened amid ample supply, market sources said.

Ex-tank prices of ACN in east China were assessed at CNY21,100-21,300/tonne on Thursday, according to CBI, an ICIS service in China.

Major domestic producers, Jilin Petrochemical and Fushun Petrochemical, have offered spot material at CNY20,600-20,800/tonne DEL (delivered) this week, while distributors were able to conclude deals at a slightly higher price of CNY21,000/tonne DEL, the traders said.

ACN demand is faltering as downstream acrylamide, acrylic fibres and acrylonitrile-butadiene-styrene (ABS) plants have been running below capacity.

According to CBI data, acrylamide plants are operating at an average rate of 60% of capacity, AF plants at 85% and ABS plants at 80% this week.

($1 = CNY6.53)

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By: Amanda Zhang
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