European ACN spot prices fall $90-180/tonne in March on oversupply

28 March 2014 23:59 Source:ICIS News

LONDON (ICIS)--European acrylonitrile (ACN) spot prices have fallen by $90-180/tonne since the beginning of March because of oversupply and weak demand, buyers and sellers confirmed on Friday.

Spot prices were trading at $1,780-1,800/tonne CIF (cost, insurance and freight) western Europe in the week ending 28 March.

Spot prices spiked in January and February on the back of global shortages, causing several sellers to overestimate demand levels in March and leading to a surplus of prompt European material. 

By Mark Victory