Mitsui cuts Sept phenol offer; rolls over Aug acetone price

09 September 2009 04:06  [Source: ICIS news]

SINGAPORE (ICIS news)--Japanese producer Mitsui Chemicals proposed a lower September contract price for phenol from August while it sought to roll over acetone contracts this month at $850/tonne, a company source said on Wednesday.

Mitsui, which is Asia’s largest phenol-acetone producer, pegged its Asian contract price (ACP) for phenol at $1,150/tonne (€793.5/tonne) CFR (cost and freight) China, inclusive of 6% anti-dumping duties (ADD).

The September ACP was down $50/tonne from Mitsui's August nomination, taking into account the values of feedstocks benzene and propylene, the source said.

For acetone, the company nominated an $850/tonne CFR China ACP for September, inclusive of 7.2% ADD. The rolled-over price from August factored in limited supply of the material and cost concerns, the source said.

($1= 0.69)

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By: Liu Xin
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