US April ACN contracts rise slightly on feedstock ammonia

02 May 2014 22:16 Source:ICIS News

HOUSTON (ICIS)--US Gulf acrylonitrile (ACN) contracts for April were assessed on Friday at a slight increase of 0.73 cent/lb as the rise in feedstock costs for ammonia outweighed the decline for propylene.

The formula-based domestic contract settlement put April ACN prices at 99.61-102.61 cents/lb ($2,196-2,262/tonne) DEL (delivered).

April propylene contracts had settled at a 1 cent/lb decline, putting the chemical-grade propylene (CGP) price at 69.5 cents/lb.

However, US Tampa prices for ammonia had risen by $120/tonne, or more than 5 cents/lb, more than offsetting the softening of the CGP price.

Meanwhile, spot players continued to have mixed sentiment about the market prices, with deals heard as low as $1,700/tonne and as high as $1,870/tonne.

Major ACN producers in the US include INEOS Nitriles, Cornerstone and Ascend Performance Materials.

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By Tracy Dang