21 June 2013 15:17 [Source: ICIS news]
LONDON (ICIS)--European acetone spot prices are steady but demand in the solvents market has tailed off, sources said on Friday.
“Business has been very disappointing and I’ve sold almost nothing. The low demand is scary," a trader in Germany said
"Astonishingly, I’ve done lots of partial loads. Little loads, four-to-five metric tonnes which makes it difficult to transport. We need to offer the same price for partial loads just to get material out of the tanks."
The trader said that its prices were stable this week.
A second trader in Germany also described the European acetone market as stable.
“We are sold out anyway, so I didn’t have much discussions this week. It seems quite stable and I am not seeing demand picking up,” the trader said.
In the Amsterdam-Rotterdam-Antwerp (ARA) region, a third trader said it too had done very little business this week and quoted similar levels to last week.
Producers also confirmed that they had seen little movement in prices this week and they did not see the market situation as getting any worse or better.
“We’ve had fairly good demand,” said one producer.
Another appeared unfazed by the recent drop in the value of spot acetone.
“Demand is flat and has not changed. It’s the same as the last weeks and months. People are struggling and people complain about the competition from Asia.
“We are delivering between €830-910/tonne ($1,107-1,213/tonne) on an FCA [free carrier alongside] basis. We know there are lower prices, but we are balanced-to-tight and I don’t have to sell at lower prices,” the producer said.
“I will finish the end of June with empty stocks,” the producer added.
($1 = €0.75)
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