LONDON (ICIS)--Initial European acrylonitrile (ACN) December contract prices have been agreed at increases of €25-30/tonne ($34-41/tonne), market sources said on Friday.
Some buyers continue to argue for more limited price rises of €20/tonne, because of weak demand resulting from year-end destocking. Producers continue to target price rises of €30/tonne.
The December propylene contract price rose by €30/tonne. At the broadly accepted production ratio of 1.1 tonnes of propylene to 1 tonne of ACN, this equates to a €33/tonne cost rise from propylene.
($1 = €0.73)