18 March 2013 10:04 [Source: ICIS news]
LONDON (ICIS)--European acrylonitrile (ACN) March contract prices rose by €45-55/tonne ($58-71/tonne) because of feedstock cost increases, sources confirmed late on Friday.
The upstream March propylene contract price settled at an increase of €55/tonne. Nevertheless, the full propylene contract increase was not passed through to the ACN market because of decreases in ammonia spot prices – which is ACN’s other feedstock.
One seller said that is had agreed higher price increases of up to €80/tonne, but this was not confirmed by the broader market and was dependent on starting point.
March ACN contract prices settled at a pre-discounted level of €2,060-2,088/tonne FD (free delivered) NWE (northwest Europe).
Additional reporting by Jane Gibson
($1 = €0.77)
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