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Acrylic chain: entire chain on an uptrend

Acrylic chain: entire chain on an uptrend Source:
Date: 31-01-2013
Visits: 302
Very Poor

Propylene prices gained in Asia on an open Asia-US arbitrage and tight Asia-US propylene arbitrage window open. The arbitrage from Asia to the US was opened with increased discussions between Asian producers and traders to fix cargoes. In Europe, Lavera cracker outage aided the upward trajectory in spot prices.

Acrylonitrile markets firmed up high levels in Asia and prices gradually rose, given limited spot supply and high cost of propylene. The markets were also pulled up by continuously northward trend, and more inquiries emerged in the market. However, downstream production was gradually easing impending the Lunar New Year holiday in China.

With acrylonitrile markets in Asia holding firm on support of limited availability, prices were talked higher as sellers went reluctant to sell. Demand saw marginal change with many mills down or running with low rates, with buying interest curbed, though there was some pre-buying ahead of Chinese New Year holidays.
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