North American ACN spot prices dip average of 6%

11 May 2012 23:17  [Source: ICIS news]

HOUSTON (ICIS)--North American acrylonitrile (ACN) spot prices dipped by an average of 6% on Friday, on declining feedstock propylene costs, weak demand and buyer sentiment.

ACN spot prices moved to $1,805-2,000/tonne (€1,390-1,540/tronne) from $2,010-2,050/tonne last week.

As a result of market conditions, many producers have reduced rates because spot sales have been weak.

Demand could further weaken if Asian acrylonitrile-butadiene-styrene (ABS) material comes into the market.

Other downstream markets for ACN, such as acrylic fibre (AF) and acrylamide, are performing well, ACN producers said.

A trader said the ACN market will be soft through June.

The formula-based ACN contract prices for April were derived Wednesday.

North American producers of ACN include Ascend Performance Materials, Cornerstone Chemical, INEOS Nitriles and Unigel.

($1 = €0.77)

By: Wesley Busch
+1 713 525 2653

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