10 May 2012 21:33 [Source: ICIS news]
HOUSTON (ICIS)--US March acetone exports dropped by 30% year on year, as US material was largely uncompetitive in the key Asian market, data released by the US International Trade Commission (ITC) showed on Thursday.
US March acetone exports were 25,389 tonnes, down from 36,260 tonnes for the same month a year ago.
Sources attributed the fall to a March surge in feedstock refinery-grade propylene (RGP) in the US, which pushed up acetone prices.
US acetone export prices were assessed by ICIS at 55-63 cents/lb ($1,213-1,389/tonne, €934-1,070/tonne) on an FOB (free on board) basis throughout March.
Asian acetone prices were on average between 47.50-49.50 cents/lb on a CFR (cost and freight) basis, as assessed by ICIS.
Month on month, US acetone exports fell by 8.3% from 27,697 tonnes in February 2012.
On the import side, total March 2012 volumes were 3,166 tonnes, down by 45% from 5,734 tonnes for the same month a year ago.
Month on month, imports were up by 15% from 2,765 tonnes in February 2012.
Major US acetone producers include Dow Chemical, Georgia Gulf, Haverhill Chemical, Honeywell, INEOS Phenol and Shell Chemical.
($1 = €0.77)
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