25 October 2007 16:19 [Source: ICIS news]
The settlement at €930/tonne FD (free delivered) NWE (northwest ?xml:namespace>
It follows two other confirmed fourth-quarter acetone agreements at €930/tonne FD NWE.
Once again, INEOS Phenol’s recent force majeure announcement was key in the buyer’s decision to accept the €10/tonne increase, having initially targeted a rollover.
The buyer expected the market to become more balanced during November and into early December as a result of this declaration of force majeure.
Another fourth-quarter agreement also at €930/tonne FD NWE has been reported by a buyer, but sell side confirmation remains outstanding.
($1 = €0.70)
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