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)
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|
Asian Chemical Connections