Asia acetone prices up $70-100/t on high costs

30 June 2008 09:11  [Source: ICIS news]

SINGAPORE (ICIS news)--Asia acetone producers hiked prices between $70-100/tonne as of Friday due to high raw material costs, industry sources said on Monday.

 

“We have no choice but to increase prices because raw material costs are high,” said a regional producer.

 

Spot cargoes were traded at $1,100-1,150/tonne CFR (cost-and-freight) China, according to global chemical market intelligence service ICIS pricing.

 

A 1,000 tonne northeast Asian cargo was heard sold at $1,150/tonne CFR China for July loading, excluding anti-dumping duties (ADD) of less than 6%.

 

Regional producers stood by offers at $1,150-1,200/tonne CFR China on the back of high upstream costs, as well as tight deep-sea availability.

 

Buying sentiment remained cautious, with buying ideas capped around $1,100/tonne CFR China, as Chinese domestic prices were still below those of imports.

 

In the Chinese domestic market, trades of import cargoes rose by yuan (CNY) 50-200/tonne ($7.3-29.2/tonne) to CNY9,600-9,650/tonne ex-tank, in tandem with price hikes of CNY200-350/tonne implemented by local producers.

 

($1 = CNY6.86)

 

To discuss issues facing the chemicals industry visit ICIS connect
For more on acetone visit ICIS chemical intelligence


By: Liu Xin
+65 6780 4359



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