21 September 2012 17:57 [Source: ICIS news]
HOUSTON (ICIS)--The US September barge acetone contract reached an initial settlement at a rollover on Friday, sources confirmed.
A buyer and seller each said they reached an agreement at 45.5 cents/lb ($1,003/tonne, €772/tonne) ?xml:namespace>
Sources said that a settlement was nearly reached early in the month, but talks stalled when feedstock refinery-grade propylene (RGP) prices started to increase recently.
However, despite RGP trading higher by 2.5-4.0 cents/lb from early-September levels, September barge acetone rolled over.
“The recent RGP trades won’t affect acetone made in September, so I shouldn’t have to pay for it,” a buyer said. “That should factor into the October contract price.”
($1 = €0.77)
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