The US ACN price was assessed higher again this week as tight supplies continued to plague the market.

The price continued to be talked between $2,150/mt and $2,200/mt FOB USG, and could climb above $2,200/mt during the next few weeks, a source said. The US price for export was assessed at $2,160/mt FOB USG, up $10 from last week. The price was about $50 below the European price. The Asian ACN price was the highest globally at $2,270/mt CFR FE Asia.

Downstream demand remained unseasonably high, a source said. And stronger propylene prices were expected to provide even more support for ACN.

In the propylene market, refinery-grade prices were heard bid at 63 cents/lb MtB pipe on Monday. There was a force majeure declared on propylene out of Shell's Norco (Louisiana) complex, causing a tightening in the market. But the fundamental cause of propylene's steady climb in recent days remained producers' reluctance to sell amid high expectations for the coming month.


$1=CNY6.65

source:CCFGroup.com