17 May 2013 17:47 [Source: ICIS news]
LONDON (ICIS)--European acetone spot prices fell again this week as a result of flat demand, sources confirmed on Friday.
Prices dropped €20/tonne ($26/tonne) to €900-970/tonne FD (free delivered) NWE (northwest Europe), with some even lower numbers heard for southern Germany.
“Nobody is placing huge orders,” one source said. “They want to be sure they can get rid of the volumes.”
Demand remains steady and low, and the anticipated ‘high season’ for coatings has yet to make a significant appearance, despite an improvement in the weather.
Some buyers were staying away from the market as they waited for June propylene to settle, sources said, expecting feedstock numbers to remain stable.
“It’s typical mid-month business,” one source said.
The market is well-balanced and so far, the planned maintenance outage at INEOS Phenol’s Antwerp, Belgium plant from mid-May to mid-June, has not led to any shortages. Some players said that this could change if there was an improvement in demand or the shutdown goes on for longer than planned.
Acetone supply remains curtailed due to low operating rates for phenol.
($1 = €0.78)
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