Phenol, acetone market volatile and hard to predict - CFO

06 May 2010 18:16  [Source: ICIS news]

LONDON (ICIS news)--The phenol and acetone market will remain highly volatile in the second half of 2010, Borealis’ chief financial officer (CFO), Daniel Shook, said on Thursday.

The CFO of the Austria-based polyolefin maker added that there was still very little visibility in the market and that it was hard to predict.

“Those markets, as they have proven over the last few years, can turn quite quickly and we have to keep an eye on it,” Shook said.

“Even so, the volumes in the phenol and the acetone business were up quite nicely compared to last year. There was also good margin improvement as well,” Shook added.

Meanwhile, Borealis announced that it had closed its phenol plant at its Porvoo facility in Finland for a scheduled maintenance turnaround.

The phenol plant has a capacity of 195,000 tonne/year, according to the ICIS plants and projects database.

Borealis said that the turnaround was ongoing and that the plant would be started up again during the weekend.

At the end of April, market sources said there were serious concerns in the European phenol market over tight supply amid a declaration of force majeure, a stock allocation and planned turnarounds.

At the same time, the value of European acetone had hit the €1,000/tonne ($1,282/tonne) mark, almost doubling year on year because of supply issues.

($1 = €0.78)

For more on Borealis visit ICIS company intelligence
To discuss issues facing the chemical industry visit ICIS connect

By: Franco Capaldo
+44 (0)20 8652 3214

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