Acrylic Prices Surge Sharply In Asian Markets

Market Intelligence

Acrylic Prices Surge Sharply In Asian Markets

Acrylonitrile (ACN)

Acrylonitrile prices surged more sharply in Asian markets as tighter supplies encouraged major suppliers to hike their offers. In China, Sinopec Anqing and PetroChina, Jilin Petchem announced February ACN settlement price higher than January. Asian ACN marker the CFR Far East jumped US$80 in the first fortnight to US$1,929-1,931 per metric ton while CFR SE Asia gained US$59 at US$1,849-1,851 per metric ton. Indian ACN prices were firm at US$1,850-1,900 per metric ton CFR. In US, spot export prices jumped US$80 on the fortnight to US$1,785-1,795 per metric ton FOB USG amid continued global supply tightness and strong demand in domestic market. In Europe, ACN prices surged US$40 to US$1,853-1,857 per metric ton CIF Mediterranean driven by soaring upstream costs and relentless healthy demand, particularly from ABS markets.

ASF

Acrylic staple fibre prices were hiked in China and India in rising cost although some correction was seen in the second week of February. Demand was weaker in China as yarn mills proceeded on vacation in succession which thinned trading activity. Taiwan origin 3D bright ASF tow offers were hiked US cents 5 at the upper end at US$2.10-2.20 a kg. In China, medium-length fibre and cotton-type staple were US cents 14 up at US$2.41-2.75 a kg. In India, offers were raised INR13 at INR173.50-176.50 a kg (US$2.70-2.74 a kg).