21 October 2011 04:38 [Source: ICIS news]
Asahi Kasei's November Far East Contract Price (FECP) nomination on a CFR (cost & freight)
The FECP for October was $2,300/tonne CFR Asia.
“Weak sentiment is the major factor for the downward price revision for the November FECP,” the source said.
Demand for ACN has weakened with the downstream acrylonitrile-butadiene-styrene (ABS) makers in
Meanwhile, ACN supply remained ample, with deep-sea cargoes from the US Gulf competing with Asian suppliers struggling to find customers in a bearish market, traders said.
ACN spot prices have dropped by $300/tonne since mid-September to $1,750-1,800/tonne CFR northeast (NE) Asia in the week ended 14 October, ICIS data showed.
($1 = €0.73)
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