The US acrylonitrile domestic assessment was up a quarter-cent week on week at 51.75 cents/lb ($1,141/mt) delivered following settlement of the October chemical-grade propylene contract.
The increase was the first since a 1 cent/lb rise on February 24, based on Platts data.
The domestic assessment is a formula-based contract price using feedstock chemical-grade propylene as well as ammonia, according to market feedback. The October chemical-grade propylene contract settled a half-cent higher from September at 29 cents/lb, sources said.
Since the increase to an assessment at 75 cents/lb delivered on February 24, the domestic assessment had dropped 23.50 cents/lb, tracking the lower feedstock chemical-grade propylene contract price.
The US ACN export assessment was at $790-$800/mt FOB USG, down $25/mt week on week on slow demand, sources said.
The export assessment was at its lowest level and under $800/mt for the first time since March 24, 2009, when it was at $745/mt FOB USG, based on Platts data.
The export assessment has plummeted $1,185/mt since an assessment at $1,980/mt FOB USG on September 16, 2014 — down nearly 60% over that period and down $865/mt since starting the year assessed at $1,660/mt FOB USG, according to Platts data.
However, sources said US ACN domestic and export prices could be either nearing or at a floor due to the increase in propylene contract prices and because spot pricing in Asia and Europe was flat week week.
