Polyacrylonitrile (PAN) Price Trend and Forecast

Regional Price Overview

Get the latest insights on price movement and trend analysis of Polyacrylonitrile (PAN) in different regions across the world (Asia, Europe, North America, Latin America, and the Middle East & Africa).

Polyacrylonitrile (PAN) Price Trend for the Second Half of 2023

Asia

Polyacrylonitrile (PAN) began its price run on the lower level of the price curve at the beginning of Q3’23. In both the Indian and the Chinese markets, the inventories were overflowing with surplus stocks, and the bearish demands made the situation even more dire for the polyacrylonitrile suppliers. So, the PAN price graph remained downward-directed for the majority of the discussed span. As quarter-four approached, the price graph declined further since the international queries also declined throughout.

Polyacrylonitrile (PAN) Price Chart

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Depreciation in the production costs led by the downfall in the feedstock ammonia and acrylonitrile prices was also responsible for sliding the upstream cost support. Overall, a very meek market performance was witnessed by the Asian polyacrylonitrile (PAN) market during the second half of the year 2023.

Europe

The European polyacrylonitrile industry had its struggles during the said period. A few maintenance shutdowns of downstream rubber industries affected the market demands gravely during this time. On the other side, the supplies were also strained because of port congestion and later on because of the shipping industry crisis, given the Red Sea issues. So, the prices were tugged between trembling demands and constricted supplies; overall, very muted market sentiments were witnessed.

North America

The polyacrylonitrile (PAN) performed differently during both quarters of H2’23 in the American market. Quarter three was dull and riddled with weak domestic demands, but steadily, the situation started changing. The demands started rising. However, by now, the suppliers had directed the existing stocks towards the international markets, especially Europe. This created a supply crunch at home, and the PAN prices started rising as the fourth quarter hit. So, a mixed market performance was witnessed.

Analyst Insight

According to Procurement Resource, PAN price trends are likely to vary regionally in the coming months; global demands are expected to rise as the holiday season gets over.

Polyacrylonitrile (PAN) Price Trend for the First Half of 2023

Asia

Polyacrylonitrile prices exhibited bearish market sentiments throughout the said period of the first half of 2023, primarily because of the depressed upstream costs. As the polymerization of acrylonitrile produces polyacrylonitrile, the lowered feedstock acrylonitrile costs also affected the polyacrylonitrile market rates. Another factor influencing the Polyacrylonitrile market was the inventory stocks; since the consumption has been low for a very long time, the supplies have been piling up. This further forced the suppliers to push down the prices in order to vacate the inventories.

Europe

Polyacrylonitrile witnessed mixed price trend throughout the H1’23. Initially, the market started slow at the beginning of the first quarter; however, it picked up pace from the middle of Q1’23 as the consumption started rising from downstream textile, fibers, and chemical industries. But as the second quarter arrived, the market again shifted gear, and the prices started falling with depressing demands. The heightened inflation because of the Russia-Ukraine war also had its role to play in dictating the market dynamics. Overall, dull market sentiments were observed.

North America

The Polyacrylonitrile market was mostly muted during the discussed period of H1’23. The American market almost mimicked the Asian market for Polyacrylonitrile price trend. Because of sullen demands, the price trend were already on a downward trajectory, but when the inflation rose after two major US banks collapsed and the interest rates went up, the steepness of the downward curve increased even further. The prices remained on a downhill trek.

Analyst Insight

According to Procurement Resource, with the given gap in the supply and demand dynamics, the prices are not likely to improve anytime soon.

Polyacrylonitrile (PAN) Price Trend for the Second Half of 2022

Asia

During the third quarter, the prices remained on the negative side for polyacrylonitrile polymer. The major cause was the heat waves and disruptions in power supply. The fall in the prices was further supported by the increase in inventories. Another major cause for the declining trend was customer demand, which remained insignificant throughout the quarter. There was, however, a slight incline in the prices during the initial months of the fourth quarter for the feedstock acrylonitrile. But this was short-lived as the strikes in the South Korean region negatively impacted the price trend.

Europe

The European market saw a stable price incline for PAN. The demand for its feedstock acrylonitrile remains stable in the third quarter. The export from the Russian market, however, negatively impacted the domestic European market and the prices started to fall.

The high inflation in the European region and increased domestic inventories further led to the decline in the prices of the commodity. The fourth quarter, however, showcased the rise in the prices of feedstock acrylonitrile which in turn rose the prices of polyacrylonitrile due to the limited supply from the market. The middle of the fourth quarter saw a decline the as the production costs increased.

North America

The domestic inventory plunged during the third quarter of 2022 accompanied by decreased production rates of the feedstock acrylonitrile that led to a decline in the prices of the commodity. Feedstock prices rose marginally in the fourth quarter during the initial months. This rise was, however, short-lived as the fall in the upstream costs and rising inflation led to a dip in the prices. The supply chain of the feedstock was also disrupted because of the low water levels in the Mississippi and Ohio rivers, leading to an increase in domestic inventories.

Analyst Insight

The prices of PAN are likely to decrease during the coming month given the rise in the domestic inventories and high inflation in the market.

Polyacrylonitrile (PAN) Price Trend For the First Half of 2022

Asia

The price trend for PAN (Polyacrylonitrile) registered an oscillating pattern throughout the Asian market. The surging upstream crude oil prices deeply impacted the petrochemical industry. The prices of feedstock acrylonitrile and methyl acrylate soared throughout the first quarter, thereby affecting the price trend for PAN.

The price of feedstock acrylonitrile averaged 2200 USD/MT Ex-Mumbai in the Indian domestic arena. However, during the second quarter, the prices soon plateaued and registered a downward trend as the market dynamics relaxed owing to the demand destruction and supply-demand mismatch. The price of feedstock acrylonitrile averaged 1780 USD/MT CFR Qingdao during the second quarter of the said year.

Europe

The price trend for PAN surged throughout the European region due to the robust demand from automotive and electrical industries amid the inflated upstream production costs. However, the price relaxed towards the end of the second quarter as the supply chain restrictions started to ease. The price of feedstock acrylonitrile averaged 1985 USD/MT towards the end of June 2022.

North America

The prices surged during the start of the year owing to the robust demand, supply and skilled labour shortages, inflated freight, and transportation charges. However, despite the trade relaxation in the second quarter, only a slight dip was registered in the price trend for PAN owing to the booming downstream sector. The price of feedstock acrylonitrile averaged 2010 USD/MT in the US domestic market.

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