Sinopec acrylonitrile prices China
Sinopec raised May ACN prices by USD166 per ton Sinopec acrylonitrile prices China
MOSCOW – Sinopec, one of the world’s largest energy and chemical companies, in May increased the contract prices of acrylonitrile in China by 1,150 yuan (CNY) or USD166 per ton above the previous level amid limited supply of material on the world markets, an ICIS source told the company. Sinopec acrylonitrile prices China
Thus, the May contractual and spot prices of ACN in the region were approved on ex-works delivery terms (ex-works) and amounted to CNY14,950 (USD2,163) per ton.
According to the source, the company’s plant with a capacity of 130 thousand tons per year, located in Shandong Province (Shandong, China) and operated jointly with the Wanda Group, is currently operating at full capacity.
Acrylonitrile is one of the main raw materials for the production of acrylonitrile-butadiene-styrene (ABS).
According to the ICIS-MRC price review , the cost of the Russian and Korean ABS in the domestic market of the Russian Federation in May is at the lowest levels for the last year. In April, imports of ABS in Russia amounted to 3.10 thousand tons compared to 2.83 thousand tons a month earlier and 2.20 thousand tons in April last year. In January-April of this year, imports of ABS in the Russian Federation grew by 6% compared to the same period last year: from 9.75 thousand tons to 10.37 thousand tons.
China Petroleum and Chemical Corporation (Sinopec) is one of the world’s largest integrated energy and chemical companies. Business Sinopec Corp. includes oil and gas exploration, extraction and transportation of oil and gas, oil refining, petrochemical production, the production of mineral fertilizers and other chemical products. In terms of refining capacity, Sinopec Corp. ranks second in the world, in terms of ethylene capacity – fourth. Sinopec acrylonitrile prices China
(USD1 = CNY6.91)
Author: Anna Larionova