Acrylonitrile Market Morning Briefing (20260910)

I. Key Focus Points

1. Zhejiang Petrochemical's 520,000 mt/year acrylonitrile unit is currently operating at 75%.

2. Propylene feedstock prices have risen sharply.

Core logic: rising supply, weak demand, firm costs.

II. Price Table

Notes: 1. Both acrylonitrile and propylene are national-standard premium-grade products. 2. The CFR South Asia acrylonitrile price is in USD/mt; all other prices are in RMB, unit: RMB/mt. 3. The change rate is the period-on-period rate of change. 4. Except for the Shandong acrylonitrile market price, which is a delivered-to-nearby cash price including tax, all RMB prices in the table above are ex-warehouse cash prices including tax.

III. Market Outlook

The domestic acrylonitrile market may halt its decline and shift to a wait-and-see stance. International crude oil and upstream propylene prices have risen sharply of late, lifting costs strongly higher, while the spread between propylene and acrylonitrile has narrowed to around RMB 500. Suppliers are holding prices firm and spot buyers have quickly followed with restocking, suggesting the market has bottomed out in the near term.

IV. Data Calendar