Several acrylonitrile (ACN) plants were going in for planned maintenance shut down in the Asian region.
Asahi Kasei's 300 kilo ton per annum unit in Muzushima, Japan had a shutdown of 40 days long duration this week. Dia-Nitrix shut down its 115 kilo ton per annum ACN unit for maintenance till April 2nd. South Korea, Taekwang was going in for shutdown of 21 days for its 250 kilo ton per annum ACN plant later this month.
Though downstream acrylic fiber and ABS markets were sluggish, ACN prices this week in Asia surprisingly climbed about $10 per metric ton to $1400 per metric ton CFR and above level.
The hardening of ACN prices was on the strength of a fall in production expected due to several plant shutdowns.
Buyers are on back foot as derivative product demand is sluggish and weak energy prices coupled with planned starting up of plants in the region with resumption of Formosa's 240 kilo tons per annum ACN complex at Mai Liao.
But sellers are firm with their offers on the back of low inventory with producers and few stocks in the pipeline.
Other plant news is that Taiwan's CPDC has restarted its 190 kilo ton per annum ACN plant at Kaohsiung this week.
marketing@alchempro.com
