Initial Europe ACN August contract agreed at €35/tonne increase

16 August 2013 17:48  [Source: ICIS news]

LONDON (ICIS)--An initial European acrylonitrile (ACN) August contract price has been agreed at an increase of €35/tonne because of higher feedstock costs, the buyer and seller involved confirmed on Friday.

The upstream August propylene contract price rose by €50/tonne. Nevertheless, the propylene rise was tempered by falling prices of ammonia – ACN’s other feedstock – during July.

Although the initial ACN contract settlement received further support from another buyer, negotiations are ongoing, with several consumers aiming to limit contract price increases to €30/tonne.

Buyers argue that ammonia cost falls and limited ACN demand in Europe do not support contract price hikes of €35/tonne.

($1 = €0.75)

By: Mark Victory
+44 208 652 3214

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