10 October 2013 16:24 [Source: ICIS news]
LONDON (ICIS)—A buyer has agreed an initial acrylonitrile (ACN) settlement at a reduction of €40/tonne compared with September, it said on Thursday.
The producer could not be immediately reached for confirmation.
October ACN contract prices have been widely expected to fall because of lower feedstock costs.
Buyers had been targeting price reductions of at least €40/tonne, in line with the fall in feedstock contract prices because of weak downstream margins.
One producer was aiming to limit price falls to around €20/tonne, because of good demand in most downstream sectors.
Buyers confirmed that they had received starting offers from producers at a reduction of €20/tonne.
Negotiations are ongoing.
($1 = €0.74)
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