LONDON (ICIS)--European acrylonitrile (ACN) August contract prices have settled at a rollover to reduction of €13/tonne, buyers and sellers confirmed on Friday.
This was in spite of a €20/tonne fall in the upstream feedstock propylene August contract price.
Tight supply, healthy downstream demand in the acrylonitrile-butadiene-styrene (ABS) and acrylamide markets and spot prices at a two-year high prevented buyers from achieving the full propylene cost reduction of €22/tonne (at the broadly accepted production ratio of 1.1 tonnes of propylene to 1 tonne of ACN).
Contract negotiations were protracted because of August holiday absences.
The August ACN contract price was assessed at €2,088-2,121/tonne FD (free delivered) NWE (northwest Europe).