24 May 2013 11:19 [Source: ICIS news]
LONDON (ICIS)--European demand for spot acetone has improved slightly which has kept prices relatively stable, sources said this week.
“We have sold product and prices are more or less stable right now. Maybe this is due to the INEOS shutdown.
“We have €920-940/tonne [$1,195-1,221/tonne] FD [free delivered]. There are no imports or exports,” a German-based trader said.
Spot acetone prices have been declining since early April because of weak demand, with the larger-than-expected drop in the May propylene contract price, adding to the downward sentiment.
However, a number of sources in the trade and distribution spoke about a slight improvement in the amount of enquiries they received in the market this week, with one having purchased a “substantial” amount of acetone for truck business.
“For acetone I bought some material, quite substantial, but in trucks. It [the acetone market] seems to have stabilised at the moment and I don’t see it changing much. If you really make an effort you can get acetone below €900/tonne on an FCA [free carrier alongside] basis,” a trader said.
Another reseller said: “We received some more enquiries and did some more business again this week, but price-wise we are in the low €900s/tonne.
“But it is quiet. We thought the INEOS outage would have a great influence on the market, but so far we don’t see this.”
($1 = €0.77)
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