Initial US June barge acetone contracts fall 15%

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)

By: John Dietrich

AddThis Social Bookmark Button

For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.

Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.

Printer Friendly