Asian acetone prices down by $10-20/tonne on poor demand

31 July 2012 10:41  [Source: ICIS news]

SINGAPORE (ICIS)--The spot prices of acetone in Asia are under downward pressure because of the persistently weak demand, market sources said on Tuesday.

Spot prices slipped by $10-20/tonne (€8-16/tonne) to $960-970/tonne CFR (cost & freight) China on 27 July, compared to the week ended 20 July, according to ICIS data. This was despite the tightened supply following production cuts at most regional facilities, which have been running at 70-90% since the second quarter, market sources said.

Some traders were offloading cargoes these lower prices as they were eager to lock in profit amid an uncertain price outlook, sources said.

However, trading activity slowed as buyers have withdrawn to the sidelines given the recent volatility in crude futures and poor demand from the downstream solvents sector, they added.

($1 = €0.82)

By: Liu Xin
+65 6780 4359

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