Europe spot acetone prices fall again on poor demand

10 May 2013 16:54  [Source: ICIS news]

LONDON (ICIS)--European acetone spot prices have moved down again this week because of poor demand, sources said on Friday.

“There is no demand anywhere,” said a trader who quoted €930-950/tonne ($1,208-1,234/tonne) free delivered (FD) northwest Europe (NWE) as its market price for this week.

Another trader of acetone said: “For full trucks our price level is around €920/tonne FD. There is also €930-940/tonne and in extreme cases €900/tonne and this is all European origin.

“I have to say demand is still really weak and customers are hesitating - they don’t buy additional volume. I don’t want to be pessimistic but the month of May has lots of bank holidays. I personally do not believe demand will increase.”

A third reseller of acetone in Europe also spoke about lower prices this week, adding that its demand had been very low.

“Normally I know the spread of numbers, but this week I’ve no idea. There simply is no demand,” the reseller said.

Last week the market came under price pressure from some aggressive selling, largely in Germany.

Despite the planned outage at INEOS Phenol from mid-May to mid-June at its plant in Antwerp, Belgium, buyers in the solvents market said they had failed to sense any tightness in the acetone market.

($1 = €0.77)

By: Julia Meehan
+44 20 8652 3214

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