20 September 2013 19:34 [Source: ICIS news]
HOUSTON (ICIS)--INEOS has restarted its 545,000 tonne/year acrylonitrile (ACN) plant in ?xml:namespace>
The plant closed in late August for routine maintenance and is running at reduced capacities, sources said.
Spot prices for ACN rose by $25/tonne (€19/tonne) this week on tight supply and improved demand from the automotive and housing sectors.
The added supply from the INEOS plant over the next week or so is not expected to lower spot prices, because demand is expected to be robust. The automotive sector – which uses ACN for the acrylonitrile-butadiene-styrene (ABS) that is used to make auto parts – will introduce more than 20 new models over the next month.
October is supposed to be the single-biggest auto build month of the year, sources said. The US auto industry is on pace to build 16m cars and light trucks this year, which would make it the best year since 2007.
When automakers reported August sales following the US Labor Day holiday, both GM and Chrysler said August sales were in line to come in above the 16m-unit annual rate.
Major US producers of ACN include Ascend Performance Materials, Cornerstone, INEOS and Pemex-Unigel, which operates a 60,000 tonnes/year ACN plant in Mexico that was also shut down for two weeks for maintenance in August.
($1 = €0.74)
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