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    Acrylonitrile price in China to remain low in H2 2021: TexPro

    02
    Jul '21
    Pic: Shutterstock
    Pic: Shutterstock
    Acrylonitrile (ACN) price in the Chinese market is expected to remain slightly low in the second half (H2) of 2021 as the operating rate of acrylic fibre plant will remain low. This may affect the demand for ACN. Settlement prices are higher than market anticipation, hence the demand may not recover. Also, downstream buyers are not willing to pay.

    ACN price in China was 11,650 yuan per metric ton in January 2021, which increased considerably by 38.52 per cent to 16,130 yuan per metric ton in March 2021. It then dropped by 9.23 per cent to 14,640 yuan per metric ton in June 2021, according to Fibre2Fashion's market analysis tool TexPro.

    The price is expected to decrease slightly to reach 14,630 yuan per metric ton by the end of 2021.

    In the first quarter of 2021, the price showed a substantial rise owing to a tight supply of ACN amid factory maintenance of big suppliers such as Sinopec Anqing. The price increased further as the plant shut down for the Chinese New Year holiday and the demand remained strong from the overseas as well as domestic markets.

    In the second quarter of 2021, the price dropped due to poor downstream market and resumption of ACN production plants.

    Fibre2Fashion News Desk (KD)

    This according to Fibre2Fashion's Market Intelligence Tool - TexPro

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