- Participants seek to determine the feedstock contract
pricing- Pessimistic sentiment continues





In the week ending July 5, spot activity in
Europe's acrylonitrile markets remained low despite falls in the
industry-settled contract price for propylene. Propylene's monthly CP settled at Eur1,480-1,500/mt.
This is a drop of Eur120-135/mt over June levels, Insights June 30. Producers
said that the drop was welcome, but that the market fundamentals of strong
supply and limited demand remained unchanged. The producer
stated that participants have little hope of market dynamics changing. Spot
activity was still muted. Market indications point to a gap in buyer and seller
pricing expectations. A producer stated that the environment was
"gloomy" and that weaker demand is expected to continue. Another
trader expressed similar sentiments, saying "[there] is] no activity for
certain." Participants continued to compare Europe's
market with...