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ACN prices in Asia are set to fall further

May 25/2011

(ICIS) -- Acrylonitrile (ACN) prices in Asia are set to fall further as demand has weakened from downstream acrylic fibre (AF) sector, and with additional supply expected to hit the market in July, industry sources said on Wednesday.

ACN spot prices have fallen by USD 100/tonne (EUR 71/tonne) since early May to USD 2.650-2.750/tonne CFR (cost and freight) NE (northeast) Asia in the week ending 20 May, according to ICIS data.

ACN spot prices were on an uptrend since August 2010 until mid-May this year, when a number of AF producers have cut operating rates or shut down production in China given extreme softness in demand.

AF - used in clothing and home furnishings such as carpets, upholstery and cushions -accounts for more than half of Asias ACN consumption.

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