News Archive
 
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Crude oil prices increased in the second half of December and breached the $80 per barrel level. Numbers have eased in the past week. Brent is presently at $75.10 and WTI at $77.42. Naphtha prices have increased sharply in recent weeks. US propylene contracts for January settled up 3 cents per pound with chemical grade now at 55.5 cents per pound DEL. Asian spot propylene prices have moved higher this month to reach $1280 per ton CFR. In Europe, the monthly propylene contract price for January settled at €790 per ton DEL, up €40. Ammonia prices have increased in Asia, fallen in the USA and stabilised in Europe.
[21 January 2010]

   
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Acrylonitrile markets are very tight everywhere. Demand is strong and turnarounds/unplanned plant troubles means that the supply side is limited. Higher propylene prices have been seen in all regions and this coupled with the market balance has meant that acrylonitrile prices have moved up everywhere for January.
[21 January 2010]

   
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The PCI Asia/Far East acrylonitrile import price range for January has increased by $150 at the low end and by $100 at the top end of the range.  China domestic acrylonitrile prices have increased again.  US acrylonitrile export prices for January have increased significantly.  In Europe, T1 prices for January increased by $120 at the top of the range.  T2 contracts for January as assessed up by €50 per ton.
[21 January 2010]

   
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There are significant acrylonitrile plant turnarounds through April. INEOS Nitriles has declared force majeure at its acrylonitrile unit in Germany due to propylene supply problems.
[21 January 2010]

   
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Acrylic fibre demand in Asia continues to show strength, particularly in China. January acrylic fibre import prices to China have increased by 25 cents per kg.  Prices elsewhere in the region have also increased. China domestic prices are stable.
[21 January 2010]

   
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Acrylic fibre producers in Europe/Turkey have good demand but some production has been lost due to acrylonitrile supply disruptions. Prices in Europe for January have moved higher.  Import prices to the USA have increase for January. Prices will also increase in February.
[21 January 2010]

   
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For January, wool, cotton and Asian polyester staple prices have all moved higher.
[21 January 2010]

   
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ABS demand in Asia/China is strong. Production rates remain very high. The ABS price range in Asia for January moved up strongly. In China domestic ABS prices have increased. ABS demand in Europe is solid. US demand is expected to increase. Prices have increased in Europe.
[21 January 2010]

   
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Crude oil prices have trended down in the past few weeks but are now moving up. Naphtha prices have broadly tracked crude. US propylene contracts for December settled up 4.5 cents per pound. Asian spot propylene prices have moved higher this month. In Europe, the monthly propylene contract price for December settled at €750 per ton DEL, up €10. Ammonia prices have eased in Europe/USA.
[17 December 2009]

   
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Acrylonitrile demand has remained strong. Supply side issues in Europe, Japan and Korea, have led to a very tight market situation everywhere. Spot acrylonitrile prices have risen sharply everywhere.
[17 December 2009]

   
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The PCI Asia/Far East acrylonitrile import price range for December has increased by $100 at the low end and by $180 at the top end of the range.  China domestic acrylonitrile prices have increased again.  US acrylonitrile export prices for December have increased strongly.  In Europe, T1 prices for December increased by $160 at the top of the range.  T2 contracts for December as assessed up by €30 per ton.
[17 December 2009]

   
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INEOS Nitriles is running reactor four at Green Lake. In Mexico, the Morelos acrylonitrile plant is running well with domestic and export sales confirmed.  Mitsubishi Chemical is to buy Mitsubishi Rayon.
[17 December 2009]

   
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Acrylic fibre demand remains very strong in Asia (particularly China).  December acrylic fibre import prices to China have increased sharply, by 25 cents per kg at the top of the range.  Prices elsewhere in the region have increased.  China domestic prices have increased.
[17 December 2009]

   
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Acrylic fibre producers in Europe/Turkey continue to see good demand.  Production remains strong. Prices in Europe for December are stable. US import prices for December are stable. Sellers will push for January.
[17 December 2009]

   
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For December, wool, cotton and Asian polyester staple prices have all increased once again.
[17 December 2009]

   
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ABS demand in China/Asia remains good.  Production is also strong.  ABS prices in Asia have increased for December.  Producers are pushing for higher prices due to raw material hikes.  Chinese domestic ABS prices have increased.  ABS demand in Europe remains strong but US demand has weakened.  ABS prices are stable in Europe and down in the US.
[17 December 2009]

   
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Crude oil prices have moved in a narrow range this month. On 17 November, Brent closed at $77.36 per barrel and WTI at $79.08. Naphtha prices have moved higher in all regions. US propylene contracts for November settled up 2.5 cents per pound. Asian spot propylene prices have moved higher this month. In Europe, the monthly propylene contract price for November settled at €740 per ton DEL, down €10. Ammonia prices have increased in all regions.
[18 November 2009]

   
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Continued robust demand for acrylonitrile and some supply side problems in Europe, Japan and China has led to a tight market developing in the past few weeks. The market balance coupled to generally higher feedstock cost has caused spot prices to increase.
[18 November 2009]

   
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The PCI Asia/Far East acrylonitrile import price range for November has increased by $50 at the low end and by $70 at the top end of the range.  China domestic acrylonitrile prices have increased.  US acrylonitrile export prices for November remain notional.  In Europe, T1 prices for November fell slightly.  T2 contracts for November mostly rolled over with some down just €5 per ton.
[18 November 2009]

   
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The Lucite acrylonitrile plant at Beaumont, Texas has stopped operation. In Mexico the 60,000 tons acrylonitrile plant at Morelos is now operating and producing on-spec product.
[18 November 2009]

   
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Acrylic fibre demand remains strong in Asia. Demand in China is particularly buoyant. November acrylic fibre import prices to China have increased by 5 cents per kg.  Prices elsewhere in the region are stable. China domestic prices have increased strongly once again.
[18 November 2009]

   
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Acrylic fibre demand for the producers in Europe/Turkey remains very strong. Production remains at a high level. Prices in Europe for November are unchanged in Euros.  US import prices for November have increased again.
[18 November 2009]

   
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For November, wool, cotton and Asian polyester staple prices have all increased once again.
[18 November 2009]

   
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ABS demand in Asia and particularly in China remains good. Production in the region is high. The ABS price range in Asia for November has moved up from the October range.  Domestic ABS prices in China have increased.  ABS demand in Europe has exceeded expectations and forecasts.  ABS demand in the US continues to improve.  ABS prices in the US and Europe are unchanged from October.
[18 November 2009]

   
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Crude oil prices have increased steadily this month. On 20 October, Brent closed at $76.52 per barrel and WTI at $78.87. Naphtha prices have increased in all regions. US propylene contracts for October settled down 10 cents per pound. Asian spot propylene moved down but is now moving back up. In Europe, the monthly propylene contract price for October settled at €750 per ton DEL, down €28. Ammonia prices have increased in all regions.
[21 October 2009]

   
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The continued strength of acrylonitrile demand in Europe and Asia has come as a surprise and a combination of acrylonitrile plant turnarounds and general low levels of inventory, has led to a snug market continuing this month.
[21 October 2009]

   
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The PCI Asia/Far East acrylonitrile import price range for October has increased slightly at both ends.  China domestic acrylonitrile prices have increased.  US acrylonitrile export prices for October remain notional.  In Europe, T1 prices for October have moved up once again.  T2 contracts for October decreased by €20 per ton on average.
[21 October 2009]

   
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INEOS Nitriles has announced a technological breakthrough that will allow it to vary its acetonitrile production independently of its acrylonitrile production. SNF has announced new investments in both acrylamide monomer and polyacrylamides. The investments will happen in the USA, France, China and Korea.
[21 October 2009]

   
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Acrylic fibre demand is holding up in Asia.  October acrylic fibre import prices to China and elsewhere in the region are unchanged from September. China domestic prices have increased.
[21 October 2009]

   
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Acrylic fibre demand is looking good in Europe/Turkey. Production remains strong.  Prices in Europe for October have edged up at the low end of our range. US import prices for October have increased.
[21 October 2009]

   
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For October, wool, cotton and Asian polyester staple prices have all increased.
[21 October 2009]

   
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ABS demand in Asia is strong.  China demand has come back following the recent holiday there. The ABS price range in Asia for October moved lower.  Sellers are now pushing for increases.  Domestic prices in China have increased.  ABS demand in Europe remains good for October. ABS demand in the US is slow but improving. ABS producers in the US and Europe have had some success in pushing prices higher.
[21 October 2009]

   
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Crude oil prices moved lower early September but then recovered and have traded at circa $70 per barrel more recently. On 22 September, Brent closed at $69.66 per barrel and WTI at $71.52. Naphtha prices have eased back in all regions. US propylene contracts for September settled up 12 cents per pound. Asian propylene spot prices have moved lower in recent weeks. In Europe, the monthly propylene contract price for September settled at €778 per ton DEL, up €93. Ammonia prices have increased in all regions.
[23 September 2009]

   
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Acrylonitrile producers in all regions have faced significant feedstock pressure and this has led to higher acrylonitrile prices in all regions. So far demand is holding up ahead of a likely slowdown in Q4. Acrylonitrile supply/demand remains snug and inventory levels are low with all involved being very cautious.
[23 September 2009]

   
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The PCI Asia/Far East acrylonitrile import price range for September has increased strongly at both ends of the range.  China domestic acrylonitrile prices have increased.  US acrylonitrile export prices for September have increased sharply on the back of raw material hikes.  In Europe, T1 prices for September have moved up.  T2 contracts for September increased by €125 per ton on average.
[23 September 2009]

   
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Lucite International is to close its 145,000 tons acrylonitrile plant at Beaumont, Texas.
[23 September 2009]

   
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In Asia, acrylic fibre demand remains robust. September acrylic fibre import prices to China have increased at the top of the range. Prices elsewhere in the region are unchanged from August. China domestic prices have moved lower.
[23 September 2009]

   
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In Europe/Turkey acrylic fibre producers continue to enjoy a good level of demand and production remains strong. Prices in Europe for September have moved up at the top of our range.  US import prices for September are stable but will increase in October/November.
[23 September 2009]

   
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For September, cotton and Asian polyester staple prices have fallen and wool prices have increased.
[23 September 2009]

   
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ABS demand in China for September has been lacklustre. Opinion is mixed as to the prospects for Q4.  The ABS price range in Asia for September is up slightly. Domestic prices in China have decreased.  ABS demand in Europe is encouraging.  US ABS demand continues to pick up slowly.  ABS producers in the US and Europe are struggling to pass on feedstock hikes.
[23 September 2009]

   
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In the past month, crude oil prices have decreased and then increased again. On 21 July, Brent closed at $65.93 per barrel and WTI at $64.81. Naphtha prices have broadly tracked crude. US propylene contracts for July settled up 1 cent per pound. Asian propylene spot prices have moved up sharply. In Europe, the monthly propylene contract price for July settled at €650 per ton DEL. Ammonia prices decreased in the USA and Asia. Prices in all regions are now increasing.
[22 July 2009]

   
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Acrylonitrile markets continue to see steady demand and a supply side that remains disciplined. The result is a more or less balanced market. Raw material costs continue to escalate and acrylonitrile producers are pushing for higher prices for August volumes.
[22 July 2009]

   
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The PCI Asia/Far East acrylonitrile import price range for July has increased strongly at both ends of the range.  China domestic acrylonitrile prices have decreased slightly.  US acrylonitrile export prices for July have increased.  In Europe, T1 prices for July have increased strongly.  T2 contracts for July increased by €75-85 per ton.
[22 July 2009]

   
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Asahi Kasei has announced plans for acetonitrile capacity to be built in Thailand alongside its new acrylonitrile plant.
[22 July 2009]

   
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In Asia, acrylic fibre demand remains strong for the time being but there are signals of a slowdown ahead. July acrylic fibre import prices to China are up slightly from last month and prices elsewhere in the region are close but slightly below. China domestic prices have decreased slightly.
[22 July 2009]

   
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In Europe acrylic fibre producers continue to see very strong demand. Production remains strong. Prices in Europe for July have increased slightly at the top of the range. US import prices for July have increased.
[22 July 2009]

   
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For July, wool prices have fallen. Cotton prices have increased. Asian polyester staple prices have increased.
[22 July 2009]

   
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ABS demand in Asia is strong and stable. There is hope that it will increase in August, September and October. ABS prices need to increase due to higher raw material costs.  ABS demand in Europe increased strongly in June. July is steady. US ABS demand remains poor. Figures from the automotive sector in North America are shocking. ABS prices in the US need to increase. ABS prices in Europe have increased.
[22 July 2009]

   
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Crude oil prices have continued to increase contrary to the supply/demand balance. On 20 May, Brent closed at $59.10 per barrel and WTI at $61.45. Naphtha prices have moved up in all regions with Europe averaging $458 so far in May. US propylene contracts for May settled up 2.5 cents per pound. Asian propylene spot prices have eased back. In Europe, the monthly propylene contract price for May settled at €520 per ton DEL, an increase of €23 per ton. Ammonia prices have stabilised in Asia and eased in Europe and the USA.
[21 May 2009]

   
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Acrylonitrile markets are balanced to snug in all regions. Demand has strengthened, particularly in Asia but also in Europe and the supply side remains cautious. Feedstock prices are trending up and a further increase is expected for June. Cost push and supply/demand therefore is leading to price increases.
[21 May 2009]

   
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The PCI Asia/Far East acrylonitrile import price range for May has increased strongly at both ends of the range.  China domestic acrylonitrile prices have increased.  US acrylonitrile export prices for May have increased.  In Europe, T1 prices for May have increased.  T2 contracts for May increased by €30-40 per ton.
[21 May 2009]

   
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Asahi Kasei has announced that its acrylonitrile 'Far East Contract Price' for June is $1300 per ton CFR.
[21 May 2009]

   
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In Asia, acrylic fibre demand and production is strong. May acrylic fibre import prices to China increased strongly with prices elsewhere in the region seen a little lower.  China domestic prices have increased.
[21 May 2009]

   
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European acrylic fibre producers are busy.  Demand and production are strong. Prices in Europe for May are seen at a good level. US import prices for May remain stable despite sellers wishes to increase them.
[21 May 2009]

   
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Wool and cotton prices for May have moved up. Asian polyester staple prices have also increased.
[21 May 2009]

   
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ABS shipments in Asia are strong. Immediate demand is a little weaker. Production remains strong. The ABS price range in Asia for May has moved lower.  ABS demand in Europe continues to improve slowly and steadily. US demand is also moving higher but more slowly. Automotive in both regions remains depressed. ABS prices in the US are stable. Some increase has been seen in Europe.
[21 May 2009]

   
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Crude oil prices had gradually increased until the past few days. On 21 April, Brent closed at $48.70 per barrel and WTI at $46.65. Naphtha prices have moved up in all regions with Europe averaging $420 so far in April. US propylene contracts for April have settled at rollover. Asian propylene spot prices have increased since the last report but have backed off in the past week. In Europe, the monthly propylene contract price for April settled at €497 per ton DEL. Ammonia prices have increased in all regions.
[22 April 2009]

   
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Acrylonitrile demand in Asia/Far East remains very strong while demand in Europe is reasonable and demand in the USA remains relatively weak. On the supply side, output is broadly matching demand but there is some tightness in the Asian market. Feedstock prices have increased in all regions and acrylonitrile spot prices have also moved higher.
[22 April 2009]

   
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The PCI Asia/Far East acrylonitrile import price range for April has increased strongly at both ends of the range.  China domestic acrylonitrile prices have increased.  The US acrylonitrile export range for April has increased.  In Europe, T1 prices for April have increased.  T2 contracts for April have rolled over.
[22 April 2009]

   
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The INEOS Nitriles monthly negotiated 'Headline Price' with major Asian contract customers remains on hold. Asahi Kasei has announced that its acrylonitrile 'Far East Contract Price' for April is $1230 per ton CFR and for May is $1300 per ton CFR.
[22 April 2009]

   
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Acrylic fibre demand in Asia remains very strong.  April acrylic fibre import prices to China and other countries in the region have increased again for April and already for May.  China domestic prices have also increased.
[22 April 2009]

   
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European acrylic fibre producers have increased production on the back of a further improvement in demand.  Domestic prices in Europe for April have increased at the top of the range.  US import prices are stable for April.
[22 April 2009]

   
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Cotton and wool prices for April have moved higher. Asian polyester staple prices have also increased.
[22 April 2009]

   
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ABS demand in Asia is still seen at a good level. Production rates remain strong. The ABS price range in Asia for April increased strongly.  European ABS demand looks to have increased. US demand has also started to rise. Production rates in both areas are responding. ABS prices in the US are stable. Some increase has been seen in Europe.
[22 April 2009]

   
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Crude oil prices have continued to trade in a narrow price range during the last month.  On 18 March, Brent closed at $45.22 per barrel and WTI at $48.11.  Naphtha prices have peaked for the time being with Europe averaging $380 so far in March.  US propylene contracts for March have settled at an increase of 1 cent per pound.  Asian propylene spot prices have increased.  In Europe, the monthly propylene contract price for March settled at €497 per ton DEL.  Ammonia prices have increased in all regions.
[19 March 2009]

   
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Acrylonitrile demand in Asia/Far East remains very strong while demand in Europe is reasonable and demand in the USA is weak.  On the supply side, output is broadly matching demand but there is some tightness in the Asian market.  Feedstock prices have increased in all regions and acrylonitrile spot prices have also moved higher.
[19 March 2009]

   
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The PCI Asia/Far East acrylonitrile import price range for March increased at both ends of the range.  China domestic acrylonitrile prices have increased.  The US acrylonitrile export range for March has increased and shows just a $20 range.  In Europe, T1 prices for March have increased, particularly at the top of the range.  T2 contracts for February and March have rolled over from January.
[19 March 2009]

   
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For March 2009, INEOS Nitriles has not agreed a monthly negotiated 'Headline Price' with major Asian contract customers.  Asahi Kasei has announced that its acrylonitrile 'Far East Contract Price' for March is $1150 per ton CFR.
[19 March 2009]

   
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Acrylic fibre demand in Asia has strengthened further.  March acrylic fibre import prices to China have increased by up to 10 cents per kg as have prices elsewhere in the region.  China domestic prices have increased.
[19 March 2009]

   
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Acrylic fibre demand for European makers has improved.  Production has moved up further.  Domestic prices in Europe/Turkey for March are stable in Euros, as are US import prices.
[19 March 2009]

   
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Cotton prices for March moved sharply lower.  Wool is stable.  Asian polyester staple prices are stable.
[19 March 2009]

   
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ABS demand in Asia has strengthened further.  Production rates continue to rise. The ABS price range in Asia for March has shown a significant increase.  European ABS demand has maybe picked up a but. US demand remains poor.  Production rates in both areas remain depressed.  ABS prices in the US and Europe are stable.
[19 March 2009]

   
bullet Crude oil prices settled into a rather narrow trading range during the last month. On 18 February, Brent closed at $39.41 per barrel and WTI at $34.66. Naphtha prices continue to increase with Europe averaging $409 so far in February and now at $388 per ton. Some US propylene contracts for February have settled at an increase of 6 cents per pound (not market wide yet). Asian propylene spot prices have increased. In Europe, the monthly propylene contract price for February settled at €455 per ton DEL. Ammonia prices have increased in all regions.
[19 February 2009]
   
bullet Acrylonitrile demand has moved higher in Asia and Europe but not the USA.  Acrylonitrile operation rates have moved higher in Asia and Europe. Acrylonitrile spot prices have moved higher in Asia but not yet in Europe. With higher feedstock prices, acrylonitrile spot numbers will see upward pressure.
[19 February 2009]
   
bullet The PCI Asia/Far East acrylonitrile import price range for February increased at both ends of the range.  China domestic acrylonitrile prices have been stable.  The US acrylonitrile export range for February has tightened up with just a $60 range seen.  In Europe, T1 prices for February are seen in  very tight range.  T2 contracts for February only are under discussion.
[19 February 2009]
   
bullet For February 2009, INEOS Nitriles has again not agreed a monthly negotiated 'Headline Price' with major Asian contract customers.  Asahi Kasei has announced that its acrylonitrile 'Far East Contract Price' for February is $1000 per ton CFR.
[19 February 2009]
   
bullet Acrylic fibre demand in Asia has once again improved.  February acrylic fibre import prices to China have remained stable while prices elsewhere in the region have moved up at the low end of the range. China domestic prices remain stable.
[19 February 2009]
   
bullet Acrylic fibre demand in Europe looks better. Production rates have moved up. Domestic prices in Europe/Turkey for February have increased at both ends of the range.  US import prices for February are stable.
[19 February 2009]
   
bullet Wool and cotton prices have decreased for February. Asian polyester staple prices have moved higher.
[19 February 2009]
   
bullet ABS demand in Asia has improved substantially. Some production rates have been ramped up in response. The ABS price range in Asia for February moved up significantly.  ABS demand in Europe has picked up a little but remains unchanged in the US. Production rates in both countries have moved up a little. Prices in Europe have fallen but are stable in the USA.
[19 February 2009]
   
bullet Crude oil prices rallied in early January, then moved lower and are now relatively stable. The average for January to date is higher than the average for December. On 20 January, Brent closed at $39.71 per barrel and WTI at $38.57. Naphtha prices have bottomed and are now increasing with Europe averaging $300 so far in January and now at $365 per ton. US propylene contracts for January have settled at an increase of 2 cents per pound. Asian propylene spot prices have increased. In Europe, a quarterly propylene contract price looks unlikely with January settled at €430 per ton DEL. Ammonia prices have decreased in Europe/Asia and are stable in the USA.
[21 January 2009]
   
bullet Acrylonitrile demand remains very weak in all regions. There is little change in operation rates with many makers at only 30-50% of capacity. Acrylonitrile spot prices have once again moved lower although there is now a signal that feedstock prices are moving up, leading many to think that prices have hit the bottom..
[21 January 2009]
   
bullet The PCI Asia/Far East acrylonitrile import price range for January fell back by $140 at the low end.  China domestic acrylonitrile prices have been relatively stable. US acrylonitrile export prices for January have fallen back by $110 at the low end of the range.  In Europe, T1 prices for January moved down by $100 on the low.  T2 contracts for January only are under discussion.
[21 January 2009]
   
bullet For January 2009, INEOS Nitriles has not agreed its monthly negotiated 'Headline Price' with major Asian contract customers due to lack of contract volume.  Asahi Kasei has announced that its acrylonitrile 'Far East Contract Price' for January is $950 per ton CFR.
[21 January 2009]
   
bullet Acrylic fibre demand in Asia has picked up slightly.  January acrylic fibre import prices to China have moved sharply lower as have prices elsewhere in the region.  China domestic prices have eased back. In Japan, Mitsubishi Rayon has announced a reduction in acrylic fibre capacity.
[21 January 2009]
   
bullet Acrylic fibre demand in Europe remains weak. Production is up slightly.  Domestic prices in Europe/Turkey for January moved down significantly in Euros.  US import prices for January are also down markedly.
[21 January 2009]
   
bullet Wool prices have decreased. Cotton prices have moved up. Asian polyester staple prices are broadly flat.
[21 January 2009]
   
bullet ABS demand everywhere remains weak, but January demand is better than December. Production rates remain low. The ABS price range in Asia for January is down by $80 on the low.  ABS prices in Europe and the USA have fallen.
[21 January 2009]
   
bullet Crude oil prices have continued to move down during the past month. On 16 December, Brent closed at $42.34 per barrel and WTI at $43.84. Naphtha prices have continued to fall, with prices in Europe averaging $260 so far in December and now at $257 per ton. US propylene contracts for December settled at a decrease of 10 cents per pound. Asian propylene spot prices have stabilised. In Europe, propylene contract prices for January/Q1 are under discussion and a January only price has emerged. Ammonia prices have decreased in all regions.
[17 December 2008]
   
bullet Acrylonitrile demand in all regions remains painfully weak. Production has been cut back further. Spot prices have fallen.
[17 December 2008]
   
bullet The PCI Asia/Far East acrylonitrile import price range for December has fallen by $300 at the bottom of the range and the average for December is $965. China domestic acrylonitrile prices have fallen for December. US acrylonitrile export prices for December have fallen by nearly $450. In Europe, T1 prices for December have fallen back significantly.
[17 December 2008]
   
bullet For December 2008, INEOS Nitriles has agreed its monthly negotiated 'Headline Price' with major Asian contract customers at $890 per ton CFR. Asahi Kasei has announced that its acrylonitrile 'Far East Contract Price' for December is $1150 per ton CFR.
[17 December 2008]
   
bullet Acrylic fibre demand in Asia remains very weak. December acrylic fibre import prices to China have fallen back as have prices elsewhere in the regionChina domestic prices have also moved lower.
[17 December 2008]
   
bullet Acrylic fibre demand and production in Europe has weakened further. Domestic prices in Europe/Turkey for December have moved lower as have US import prices.
[17 December 2008]
   
bullet Wool and cotton prices have moved up this month. Asian polyester staple prices continue to fall.
[17 December 2008]
   
bullet The ABS situation in Asia remains very weak. ABS production rates average just 40%. The ABS price range in Asia for December is $1060-1200 per ton CFR.  ABS demand in the USA and Europe has further declined. The weakness in the automotive sector is the biggest issue. ABS prices in both the US and Europe have fallen further.
[17 December 2008]
   
bullet Crude oil prices have moved down by circa 25% in the past month. On 18 November, Brent closed at $48.79 per barrel and WTI at $55.42. Naphtha prices have basically collapsed, with prices in Europe averaging $325 so far in November and now at $290 per ton. Naphtha prices in Asia are now at $285 per ton. US propylene contracts for November settled with a decrease of 30 cents per pound seen! Asian propylene spot prices have crashed and are seen in the range $350-500 per ton CFR. The propylene contract price in Europe is causing problems as it is a quarterly number and prices elsewhere have plummeted. Ammonia prices have collapsed in all regions.
[19 November 2008]
   
bullet Acrylonitrile demand in all regions has continued to fall back dramatically/collapse. Production has been cut back significantly in response with many makers at rates of 50% or lower. Spot and contract prices have fallen.
[19 November 2008]
   
bullet The PCI Asia/Far East acrylonitrile import price range for November has fallen dramatically. The average for October was $1825 and the average for November is $1330. China domestic acrylonitrile prices have again fallen sharply. US acrylonitrile export prices for November have fallen by nearly $700. In Europe, T1 prices for November have fallen drastically.
[19 November 2008]
   
bullet For November 2008, INEOS Nitriles has agreed its monthly negotiated 'Headline Price' with a major Asian contract customer at $1300 per ton CFR. Asahi Kasei has announced that its acrylonitrile 'Far East Contract Price' for November is $1580 per ton CFR.
[19 November 2008]
   
bullet The acrylic fibre situation in Asia remains a disaster. Production in the region is now below 50% of capacity. November acrylic fibre import prices to in the region have fallen back dramatically. China domestic prices have moved sharply lower.
[19 November 2008]
   
bullet The acrylic fibre situation in Europe has weakened further. Demand and production have fallen. Domestic prices in Europe/Turkey are unchanged in Euros but down in dollars. US import prices for November have fallen back and are expected to do so further in November.
[19 November 2008].
   
bullet Wool and cotton prices have moved down significantly this month. Asian polyester staple prices continue to fall on too much supply and weak raw materials.
[19 November 2008]
   
bullet The ABS situation in Asia has continued to weaken. ABS production has seen further cuts. ABS prices have again fallen sharply. ABS demand in the USA and Europe has declined significantly. Prices have also fallen.
[19 November 2008]