There has been override in ACN prices in Asian markets since last few weeks. The tightening in the supply has been the sole reason for this gain. The Indian traders are at the worst end as prices are increasing significantly since last few weeks. Further many manufacturers are storing the material for future use as well as many ACN manufacturing units is likely to undergo maintenance schedule in the month of April and May.
In China, users are piling up the stock as in next few most of the market will remain closed due to Lunar vacation. Discussions remained firm in Indian markets. CFR India prices were heard in the range of USD 1900/MT. Traders are facing hard to absorb this rate in India as majority of ACN is used in AF sector. In current position AF prices are finding it hard to keep up the pace with ACN prices.
