- Market length continues- Turkey experiences slow demand during
election period



The
European acrylonitrile market remained quiet in the week ending May 16. Weak
demand and downward pressure on pricing continued to dampen sentiment. The market was dominated by a gap between buyer and seller
expectations of pricing, with the minimum selling level and maximum purchasing
level at $1,400-1,440/mt, respectively. Both
sides of the market continued to focus on contract agreements, limiting the
space for spot activity. Turkish and
Indian markets exerted downward pricing pressure, as lower prices in these
markets drove European buying expectations down, thus limiting transactional
activity. Spot activity fell throughout
the week by $80/mt, to $1,390/mt. Participants
on the market were pessimistic, expecting only limited changes in fundamentals
of the market in the near term. Producers
noted that the upstream price pressure of key...