31 August 2012 23:59 [Source: ICIS news]
LONDON (ICIS)--European August acrylonitrile (ACN) contract prices have increased by €155-160/tonne ($194-200/tonne), buyers and producers confirmed on Friday.
The rise in prices was the result of several factors.
The cost pass-through from the upstream August propylene contract price increase of €120/tonne and rises in ammonia prices – ACN’s other feedstock – has been estimated by market players at up to €142/tonne.
Price increases beyond the feedstock cost price pass-through have been caused by rising European spot prices along with increasing exports from Europe to Asia.
European ACN spot prices have increased by $350-450/tonne (€280-360/tonne) since the beginning of July.
($1 = €0.80)
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