N America May ACN contracts fall, average spot prices rise

08 June 2012 19:07  [Source: ICIS news]

HOUSTON (ICIS)--May contract prices for acrylonitrile (ACN) in North America fell by an average of 13.5% for domestic customers on falling feedstock propylene June contract costs, yet the spot price average rebounded by 9.3%, sources said on Friday.

Domestic customers can expect to pay 88.49-93.03 cents/lb ($1,951-2,051/tonne, €1,541-1,620/tonne) DEL (delivered), which is down an average of 14.18 cents/lb from the April formula-based contract prices of 102.78-107.10 cents/lb.

Export customers will pay 78.02-85.05 cents/lb FOB (free on board), which is down by an average of 18.88 cents/lb from the May contract prices of 97.64-103.19 cents/lb.

Spot prices moved up to $1,600-1,625/tonne from $1,450-1,500/tonne, a rebound of 9.3% from last week's spot prices, sources confirmed.

The 15.5 cent/lb decrease in the June contract price for chemical grade propylene (CGP) from the May contract price was the prime reason for the drop in ACN contract prices.

ACN producers in North America include Ascend Performance Materials, Cornerstone Chemical, INEOS Nitriles and Unigel.

($1 = €0.79)

By: Wesley Busch
+1 713 525 2653

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