25 June 2012 20:28 [Source: ICIS news]
HOUSTON (ICIS)--The US June barge acetone contract reached an initial settlement at a decrease of 15% to the May price, sources confirmed on Monday.
A buyer and seller each confirmed an agreement for June barge acetone at 44.5 cents/lb ($981/tonne, €785/tonne) DEL (delivered).
This is an 8 cent/lb fall from May’s full settlement of 52.5 cents/lb DEL.
Sources attributed the fall in June to sinking prices for feedstock refinery-grade propylene (RGP).
Spot RGP values have dropped by 18% in the past four weeks, as assessed by ICIS.
The US barge acetone contract is settled between three large producers - Georgia Gulf, INEOS Phenol and Shell Chemical - and the three largest buyers - Dow Chemical, Evonik and Lucite.
($1 = €0.80)
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