Acrylonitrile demand weak price stability

In the domestic acrylonitrile market, demand has started to weaken since late April. Major producers have seen temporary price stabilization, but downstream industries are showing weak purchasing power. Some market participants remain cautious about the future outlook. The acrylonitrile market in China’s port areas is also experiencing a weak consolidation phase. Traders hold limited inventory, and the lack of strong demand has led to a downward trend in prices. With early price declines, market sentiment has turned more pessimistic. Current self-raised prices at the ports are around 13,800 yuan/ton, with some actual transactions reported between 13,600–13,700 yuan/ton. Several domestic manufacturers have announced new contract prices. For example, Jilin Chemical offered 13,400–13,700 yuan/ton, Sinopec East China quoted 14,000 yuan/ton, Sinopec North China offered 13,900 yuan/ton, and Fushun Petrochemical quoted 13,700 yuan/ton. In the spot market, prices in Shandong’s surrounding areas were negotiated at 13,800–13,900 yuan/ton, with some deals slightly lower. The weak terminal demand and cautious downstream market have resulted in average sales performance. Looking back, acrylonitrile prices in Asia dropped by $30/ton to $1,960/ton CFR Far East in mid-April, with limited quotations. Although some procurement interest emerged at $1,950/ton, no actual trades were reported. A trader from the Far East noted that planned maintenance at downstream acrylic fiber plants had reduced production, though it may recover by late April, potentially increasing ACN demand. In Southeast Asia, Thai markets were affected by public holidays on April 13–16, leading to limited activity. In South Asia, a reported transaction was at $1,827/ton CFR India, though it remains unconfirmed due to skepticism over the low price. Despite the Asian market weakness, the U.S. acrylonitrile market maintained stable supply and demand. While demand slowed, supply met the needs. Export valuations remained unchanged at $1,820/ton FOB US Gulf. However, sources indicated that prices could decline after the chemical-grade propylene contract price dropped by one cent/lb to 69.5 cents/lb in April. Recent quotes reached $1,875/ton FOB US Gulf, but no firm deals have been made yet. The Asian acrylonitrile market fell by $30/ton from the previous week, settling at $1,960/ton CFR Far East. Weak demand suggests further price declines are likely, which could impact U.S. prices as well. Downstream markets for ABS and acrylic fibers remain stable. On the production side, Ascend Performance Materials plans to shut down its No. 2 acrylonitrile plant in Chocolate Bayo, Texas, for 3–4 weeks this month. Ineos Nitriles previously announced a 50% reduction in production at its Green Lake, Texas plant due to poor profitability, effective January 1st. Market forecasts suggest continued downward pressure due to fluctuating upstream raw material prices. Propylene prices globally have seen slight variations compared to early April, contributing to the overall decline in acrylonitrile markets. Market participants remain bearish, expecting prices to fall until downstream buyers accept the current levels. The drop in upstream raw material prices has also impacted the acrylic fiber market. Domestically, the acrylic fiber market has shown consolidation, with relatively stable prices. However, weak downstream demand has kept procurement enthusiasm low. The overall operating rate of the acrylic industry remains moderate, contributing to a more stable market environment and supporting the stability of acrylic product offers. Overall, the acrylonitrile market still faces challenges, but efforts are being made to maintain stability. The acrylic fiber market is expected to follow a similar trend.

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