Acrylonitrile (ACN) buyers resisted price hike by sellers throughout the week.
Sellers were optimistic at hike in prices as upstream propylene rates went up appreciably coupled with low supplies.
Considerable strengthening in propylene this week pushed it to $970 per metric ton FOB Korea mark, tilting the balance in favour of sellers, sources said.
Improved buying has pushed up prices this week in Asian derivative SAN and ABS markets, which in turn favoured sellers.
Last week's appreciable gain justifies upward revision in prices which ACN makers are seeking.
A trader viewed that it is not certain how long energy prices will hold at present levels.
Holidays in China next month may slowdown purchases across product sectors in Asia.
Plant start ups in the region along with South Korea's Taekwang unit in Ulsan is scheduled for this weekend.
Japan's Asahi Kasei where a 300 kilo ton per annum ACN unit in Mizushima is scheduled to start up next week will help availability and arrest any climb in regional ACN prices.
marketing@alchempro.com
