01 June 2012 23:52 [Source: ICIS news]
HOUSTON (ICIS)--North American acrylonitrile (ACN) spot prices dipped an average of $133/tonne (€108/tonne) this week on projected falling feedstock costs, sources confirmed on Friday.
Spot prices moved to $1,450-1,500/tonne from $1,465-1,700/tonne last week on confirmed deals.
Some market sources said they believe contract prices for feedstock chemical grade propylene (CGP) will hit bottom in June.
The CGP contract for June has not settled. It settled for May at a drop of 10 cents/lb from April.
North American producers of ACN include Ascend Performance Materials, Cornerstone Chemical, INEOS Nitriles and Unigel.
($1 = €0.81)
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