US initial March barge acetone settlement done at 7% drop

20 March 2013 19:33  [Source: ICIS news]

HOUSTON (ICIS)--US March barge acetone contracts reached an initial settlement down 7% from February, sources confirmed on Wednesday.

Buyers and producers said an initial settlement was reached at 66 cents/lb ($1,455/tonne, €1,120/tonne) on a DEL barges (delivered via barges) basis.

This represented a fall of 5 cents/lb from February’s full settlement of 71 cents/lb DEL barges.

Sources said the settlement was within the expected range as feedstock refinery-grade propylene (RPG) prices have fallen in the past month.

However, downward momentum for acetone prices was slowed by strong demand for large buyers and tight supply.

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

($1 = €0.77)

By: John Dietrich

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