Europe May ACN contract prices settle down by €95-100/tonne

17 May 2013 23:59  [Source: ICIS news]

LONDON (ICIS)--European acrylonitrile (ACN) May contract prices were assessed down by €95-100/tonne ($122-128/tonne) by ICIS on Friday.

The May contract price range was assessed at €1,960-1,973/tonne FD (free delivered) northwest Europe (NWE) on a pre-discounted basis.

The contract settlements were confirmed by the two producers and two buyers involved.

The downward price trend was attributed to lower feedstock costs and poor demand. The upstream propylene May contract fell by €80/tonne, representing a cost pass-through of €88/tonne.

Consumer purchasing power has been eroded by macroeconomic concerns in recent months, reducing consumption of ACN derivatives.

Sources said April was the weakest month so far this year in terms of demand, while public holidays were expected to limit buying interest in May.

In addition, buyers in Asia and the US show little interest in European exports at present.

($1 = €0.78)

By: Samuel Weatherlake
+44 20 8652 3214

AddThis Social Bookmark Button

For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.

Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.

Printer Friendly