Europe ACN September contract prices rise €120-125/tonne

21 September 2012 23:59  [Source: ICIS news]

LONDON (ICIS)--European acrylonitrile (ACN) September contract prices have settled at an increase of €120-125/tonne ($156-162/tonne) on higher feedstock costs, buyers and sellers said on Friday.

The majority of the price rise was linked to the pass-through of the €105/tonne hike in the feedstock propylene September contract price.

The remainder of the increase was caused by a mixture of upstream ammonia cost increases and the need for producers to increase margins.

One producer said that it has settled some contracts at an increase of €130/tonne, but agreed that €120-125/tonne was representative of the majority of contract settlements.

($1 = €0.77)

By: Mark Victory
+44 208 652 3214

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