Mitsui plans July rollover for Asia phenol-acetone

30 June 2008 10:44  [Source: ICIS news]

SINGAPORE (ICIS news)--Japanese phenol and acetone producer Mitsui Chemicals plans to roll over Asia phenol-acetone contract prices in July, the company said on Monday.

 

Mitsui has pegged its Asia Contract Price (ACP) for phenol at $1,850/tonne CFR (cost and freight) China, inclusive of 6% anti-dumping duties (ADD). This was unchanged from its June nomination.

 

The producer also pegged its July ACP for acetone at $1,395/tonne CFR China, inclusive of 7.2% ADD. The June nomination was at $1,455/tonne CFR China, including ADD of 11.9%.

 

Mitsui has been enjoying lower ADD on acetone since China announced its final ADD ranging between 5-12.1% on acetone imports from Japan, Singapore, South Korea and Taiwan on 9 June.

 

“We didn’t sell any contract cargoes in June,” said a company official, due to “the big price gap between the nomination and buying ideas”.

 

In the spot market, July loading phenol cargoes were sold at $1,750/tonne CFR China, including ADD of 6%, the source said.

 

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By: Liu Xin
+65 6780 4359

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