US December barge acetone reaches initial settlement at rollover

04 January 2013 18:01  [Source: ICIS news]

HOUSTON (ICIS)--The US December barge acetone contract reached an initial settlement at a rollover, sources confirmed on Friday.

Several producers and buyers have agreed to December pricing at 53 cents/lb ($1,168/tonne, €900/tonne) DEL barges (delivered via barges), sources said.

An earlier initial settlement had been reported by several large buyers, but no producer confirmation was available.

Several producers said they were displeased with the rollover, citing higher upstream costs and short supply.

Buyers countered that supply is not as tight as some in the market are saying and that import material from Asia is unavailable because of the tight supply situation there.

The US barge acetone contract is negotiated between three large producers – Georgia Gulf, INEOS Phenol and Shell – and the three largest buyers – Dow Chemical, Evonik and Lucite.

($1 = €0.77)

By: John Dietrich

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