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Asia ACN may hit $2,500/tonne on tight supply

January 25/2011

(ICIS) -- Dwindling supply and rising costs of feedstock propylene (C3) may soon push Asian acrylonitrile (ACN) prices to $2,500/tonne (?1,825/tonne), the highest level since May 2010, industry sources said on Tuesday.


Spot ACN prices were last assessed at $2,380-2,420/tonne CFR northeast (NE) Asia and at $2,400-2,450/tonne CFR India on 21 January 2011, according to ICIS data.


In May last year, prices were at $2,400-2,450/tonne CFR NE Asia and at $2,450-2,500/tonne CFR India, ICIS data showed.


УThe customers may have no choice but to pay $2,500/tonne if they need to secure any cargo as supply is very tight,Ф said a trader.


China and India are major importers of ACN, the feedstock used in the production of acrylic fibre (AF), which is used in clothing and home furnishings, such as carpets, upholstery, cushions and blankets.


China imported 42,000 tonnes of ACN in December 2010, more than 40% of which were secured from the US Gulf, according to Chinese traders. India imports around 10,000 tonnes of ACN each month.


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