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ACN Weekly Report 31 March 2018

Weekly Price Trend: 26-03-2018 to 30-03-2018

 

  • The above given graph focuses on the ACN price trend from 26th March to 30th March 2018.
  • Domestic prices continue to plunge for this week as well. This week price has further reduced to the level of Rs.130/Kg for bulk quantity.
  • Prices reduced by Rs.5/Kg by end of the week. The closing value for ACN for this week was Rs.130/Kg for Kandla port.

Booking Scenario

The above chart shows the international prices of ACN. CFR India prices of ACN were assessed in the range of USD 1935-1955/MT.

 

INDIA& INTERNATIONAL

  • Prices of ACN were assessed around Rs.130/Kg, reduced by Rs.5/Kg for bulk quantity in span of one week. This week again prices has been on reducing row due to bulk availability of inventory.
  • CFR India prices of Acrylonitrile were assessed in the range of USD 1935-1955/MT, reduced by USD 20/MT in compare to last week’s closing values.
  • Feedstock Propylene market has also reduced for this week. FOB Korea values were assessed around USD 1005/MT while CFR China values were assessed around USD 1040/MT while CFR SEA values assessed around USD 945/MT.
  • In Asian market there has been slow down in ACN values on back of ample supply in the  China market. Chinese domestic market has been lowering on heavy rate in turn curbing the imports as consumers find it too expensive in dollars. Many plants in China has resumed their production after maintenance.
  • In US ACN prices are likely to reduce further USD 200-300/MT in the second quarter due to reduced feed-stocks costs and global supply.
  • US spot acrynolitrile was last assessed Tuesday at $1,890/mt FOB USG, down $10/mt week on week. Acrylonitrile is the main feedstock in the production of acrylonitrile butadiene styrene, fibers and acrylic acid, among others. Recent marked drops in feedstock propylene pricing -- US chemical-grade propylene contracts shed a combined 12 cents/lb ($264.55/mt) in February and March -- have significantly lowered ACN production costs, which the source estimated at $1,280/mt for US-origin product. Production restarts slated for April and May in the Far East are also expected to exert downward pressure globally, the source said. Acrylonitrile export pricing in the US could fall $200-$300/mt, and even to as low as $1,500/mt levels, should propylene remain stable," the source said. Current global pricing, for which the import side ranged from $1,865/mt CIF ARA to $1,980/mt CIF Far East Asia last week, is unsustainable for major demand sectors, the source said.

 

$1 = Rs. 65.17
Import Custom Ex. Rate USD/ INR: 65.80
Export Custom Ex. Rate USD/ INR: 64.15