China Sept acetone imports surge on speculative buying

29 October 2009 09:41  [Source: ICIS news]

SINGAPORE (ICIS news)--China’s imports of acetone surged in September as buyers, expecting prices to rise in tandem with higher costs of feedstocks benzene and propylene, emerged to stock up, market sources said on Thursday.

China took in a total of 56,314 tonnes of acetone in September, up 22% from August and 148% higher compared to levels in the same period last year, according to statistics from China Customs.

Current acetone inventory levels in China were estimated to be at about 35,000 tonnes, down from 45,000 tonnes in late September, market sources said.

End-users who had earlier anticipated lower prices after China's National Day holidays (1-8 October) were forced to return to the market amid low stocks, they added.

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By: Liu Xin
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