Asian acrylonitrile producers reduce production insured prices

Drying equipment

Asian acrylonitrile (ACN) producers are resisting price declines by cutting production, as the influx of ocean cargo has caused Asian market prices to continue to fall.

It is said that although demand for acrylonitrile in Asia remains weak, a large number of surplus stocks from Europe and the United States have entered the Asian market. According to the ICIS data, Asian acrylonitrile prices fell by US$150/ton in one month, a drop of 8%. A downstream acrylic fiber (AF) producer stated that current traders' quotes for goods in Asia, Europe and the United States are all below US$1,650/tonne (CFR, Asia). At present, some traders are trying to reduce inventory levels through price cuts. An Asian supplier anticipates that demand for acrylonitrile will remain sluggish in Asia until the end of the year, and prices may remain stable.

On the producer side, China Jilin Petrochemical, Japan's Asahi Kasei, South Korea's Taikoo Petrochemical and China Taiwan’s China Petrochemical Development Corporation (CPDC) have chosen to cut production—stop production or reduce operating rates, trying to keep prices at current levels. Taiguang Petrochemical will consider taking further steps to reduce its 290,000-ton/year acrylonitrile plant in Ulsan, and reduce the current operating rate from 90% to 80% from mid-November. At the same time, CPDC has already overhauled its production facilities one week in advance. The company has two sets of acrylonitrile total capacity of 240,000 tons/year. Japan’s Asahi Kasei decided to extend its 150,000-tonne/year plant downtime in Kawasaki, Japan, from one week to mid-November. In addition, its 200,000 tons/year plant at Shuidao will continue to maintain a 70% load rate in November. The unit has maintained this operating rate since October.

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