Styrene Acrylonitrile Market in the U.S. Sees Reduction in November 2024

The Styrene Acrylonitrile market in the United States has shown declining this month, because of the changing market dynamics. While the initial days of the month saw continuous activity, the second half displayed some reduction. As this month is about to end, market sentiment remains cautious, and market participants are studying the changing supply and demand scenario, affecting Styrene Acrylonitrile prices.

On a weekly basis, Styrene Acrylonitrile prices remained stable during the first week of November, before experiencing a slight decline by mid-month. As of 22nd November, Styrene Acrylonitrile was getting traded at USD 2,245 per MT on a FOB – Houston basis, showing a reduction of approximately 1.3% from the beginning of the month. This declining trend was because of the inventory adjustments and reducing demand from the downstream automobiles sector due to a significant reduction in the business of electric vehicles. The seasonal slowdowns and reduced orders from the downstream automobile and consumer goods sectors, partly due to some U.S. automotive manufacturers postponing their investments and production schedules for electric vehicles amid average business conditions and consumer caution, led to a reduction in Styrene Acrylonitrile prices in the second week of the month. This decline was also reflected in the 1% drop in weekly prices during mid-November.

On the supply side, increased availability of Styrene Acrylonitrile helped in stabilizing the market. Logistical constraints were reduced, which ensured sufficient supply to meet the domestic demand. Despite this, competitive pricing had put pressure on domestic market dynamics, preventing any significant growth in prices for Styrene Acrylonitrile. Feedstocks styrene and acrylonitrile prices, though decreasing, remained balanced enough to support the overall stability of the supply chain.

As November comes to an end, the Styrene Acrylonitrile market is expected to remain relatively stable this week, with minor corrections predicted in response to the global trade dynamics and seasonal changes. On a monthly basis, so far, Styrene Acrylonitrile prices in November have decreased by 1.2% compared to October levels. Early projections for December by ChemAnalyst suggest a potential decline in prices as the demand is likely to reduce due to the holiday season. However, a recovery is expected in early 2025, driven by renewed production activities in the automobile and consumer goods sectors. Looking ahead, the U.S. Styrene Acrylonitrile market is expected to show an increasing trend in January and February 2025 due to increased demand from various industries, supply chain improvements, and expected growth in feedstocks styrene and acrylonitrile prices. Seasonal production increases may also contribute to higher prices. Additionally, potential regulatory changes favoring the Styrene Acrylonitrile market too could drive the market upward during these months.