25 September 2012 23:03 [Source: ICIS news]
Correction: In the ICIS news story headlined "US August domestic ACN rise 2 cents/lb on higher feedstock" dated 25 September 2012, please read in the second paragraph …88.86-92.50 cents/lb… instead of …88-86-92.50 cents/lb…. A corrected story follows.HOUSTON (ICIS)--Domestic US acrylonitrile (ACN) contracts for August rose by more than 2 cents/lb ($44/tonne, €34/tonne) because of higher costs for feedstock ammonia and propylene, sources said on Tuesday.
The increase brought prices to 90.96-94.75 cents/lb DEL (delivered), up from 88.86-92.50 cents/lb in July.
The domestic ACN contract is formula based and takes feedstock costs into account. The increase was attributed to higher ammonia spot prices and to an increase in the September propylene contract.
The August export contract also rose, from 72.86-73.99 cents/lb to 80.42-82.55 cents/lb, based on higher spot prices during the month.
North American ACN producers include Ascend Performance Materials, Cornerstone Chemicals, INEOS Nitriles and Unigel.
($1 = €0.77)
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