28 June 2013 23:59 [Source: ICIS news]
LONDON (ICIS)--European acrylonitrile (ACN) June contract prices have settled at an increase of €15-17/tonne ($19-22/tonne), buyers and sellers confirmed on Friday.
The settlement was in line with the feedstock cost pass-through.
Attention has already turned to July contract negotiations.
The upstream European propylene contract price for July was fully confirmed at a rollover of €1,040/tonne FD (free delivered) NWE (northwest Europe) from June this week. The price stability was attributed to relatively steady feedstock costs in a fairly balanced market.
European ACN producers are believed to be targeting a rollover in line with the upstream propylene settlement. Nevertheless, ACN buyers are targeting price reductions in line with lower spot prices for ammonia, ACN’s other feedstock.
European June ACN contract prices settled at a pre-discounted level of €1,975-1,990/tonne FD NWE.
($1 = €0.77)
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