11 March 2013 20:44 [Source: ICIS news]
HOUSTON (ICIS)--US March truck acetone prices are facing upward pressure from tight supply, sources said on Monday.
Buyers and sellers said pre-discount prices are moving up to the low-80s cents/lb, despite a lack of formal price increase nominations.
“It’s just the tightness of supply that’s keeping the market high,” a buyer said. “Demand is only so-so.”
February prices were assessed by ICIS at 79-83 cents/lb ($1,742-1,830/tonne, €1,341-1,409/tonne) DEL trucks (delivered via trucks) on a pre-discount basis.
Most sources agreed truck material is not available below 80 cents/lb, although some buyers said there is still product at that level.
“There are numbers below 80 cents/lb in the market,” a buyer said. “There hasn’t been any upward movement since February.”
Producers said they expect the material available below 80 cents/lb will run out soon as supply has been tight in the market for several months.
Major US acetone producers include Axiall, Haverhill Chemical, Honeywell, INEOS Phenol and Shell Chemical.
($1 = €0.77)
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