Acrylic Chain Prices lifted in India, others stable

Propylene prices were stable to higher on firm naphtha amid thin trade due to year-end holidays in Asian markets. US propylene producers nominated increases of up to 23% for January, seeking to capitalise on a surge in spot prices in the last few weeks of 2012. The increase came on the heels of unplanned cracker outages last month and the unexpected shutdown of an on-purpose propylene facility in Texas.

Acrylonitrile markets market softened as offers fluctuated in a narrow range due to subdued liquidity, which was led by weak demand and incremental cargo arrivals. In China, domestic producers generally held low inventories while cost support still existed. Trading atmosphere ranged bound at low levels amid increasing selling intention due to additional cargo arrivals at ports. Asian acrylic staple fiber markets were range-bound and producers maintained a steady supply, eying a relatively low inventory. Prices in India were lifted after almost two months of stability while prices were stable in Pakistan.