14 January 2013 20:39 [Source: ICIS news]
HOUSTON (ICIS)--US November exports of acetone fell by 53% year on year, according to data made available on Monday by the US International Trade Commission (ITC).
US November acetone exports were 16,344 tonnes, down from 34,820 tonnes a year ago.
Month on month, exports increased 25% from 13,049 tonnes in October.
The fall in exports was mostly attributed to tight supply of material in the US, as operating rates were low.
Operating rates were low because demand for acetone co-product phenol was soft, mostly from a lack of export opportunities.
Traders added that domestic pricing for acetone was also more attractive than overseas pricing, so what little excess material that was available generally stayed within the US.
In November, export spot prices for acetone were 44-48 cents/lb ($970-1,058/tonne, €728-794/tonne) on an FOB (free on board) basis, as assessed by ICIS.
However, November truck acetone contract prices were assessed at 63-67 cents/lb DEL trucks (delivered via trucks) on a pre-discount basis.
Major US acetone producers include Dow Chemical, Georgia Gulf, Haverhill Chemical, Honeywell, INEOS Phenol and Shell Chemical.
($1 = €0.75)
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