27 December 2011 03:38 [Source: ICIS news]
SINGAPORE (ICIS)--Japan’s Asahi Kasei has rolled over its $2,000/tonne (€1,540/tonne) nomination for the January 2012 acrylonitrile (ACN) contract, a company source said on Tuesday.
The major ACN producer’s January 2102 Far East Contract Price (FECP) nomination is on a CFR (cost & freight) Asia basis.
Asahi Kasei’s December 2011 FECP was at $2,000/tonne CFR Asia.
“Demand is picking up and we are getting more enquiries from customers for January cargoes and the $2,000/tonne CFR Asia price level reflects the current market,” the company source said.
ACN spot prices were assessed at $1,820-1,870/tonne CFR NE Asia in the week ended 23 December, up by more than $100/tonne since late November, according to data from ICIS.
($1 = €0.77)
For more on acrylonitrile, visit ICIS chemical intelligence
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