22 February 2013 15:51 [Source: ICIS news]
HOUSTON (ICIS)--The US February barge acetone contract reached an initial settlement at a 6.8% increase, sources confirmed on Friday.
Buyers and sellers said the initial settlement was reached at 71 cents/lb ($1,565/tonne, €1,190/tonne) on a DEL barges (delivered barges) basis.
The January full settlement was completed at 66.5 cents/lb DEL barges.
One producer said the settlement should have gone higher given movements in feedstock refinery-grade propylene (RGP) prices.
“This settlement barely covers the movement in RGP,” the producer said. “And this mid-month fall in RGP should have been moved to March discussions.”
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 = €0.76)
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