HOUSTON (ICIS)--US acrylonitrile (ACN) for November settled at a slight decline on lower costs of raw materials, market players confirmed on Friday.
Formula-based ACN domestic contracts settled in the range of 98.77-102.92 cents/lb ($2,177-2,269/tonne, €1,589-1,656/tonne) DEL (delivered), slightly lower than the October range of 99.09-103.28 cents/lb DEL.
On the export side, the ACN November contract price fell by about 2 cents/lb to 75.57-77.57 cents/lb FOB (free on board).
Sources said ACN demand for acrylic fibre (AF) in Asia have been lacklustre, and AF manufacturers are facing competition from cotton prices that have been driven down by oversupply.
While the auto industry remains strong, with increased sales reported for November, demand for acrylonitrile-butadiene-styrene (ABS) continues to be soft through the end of the year.
Producers have reduced operating rates to cope with weak demand, producing enough just to meet contractual obligations.
The main ACN producers in the US are INEOS, Cornerstone and Ascend Performance Materials.
($1 = €0.73)
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