US July truck acetone settles flat, barge headed higher

29 July 2013 22:03  [Source: ICIS news]

HOUSTON (ICIS)--US July truck acetone prices rolled over from June, despite producers’ effort to move prices upward, sources said on Monday.

In a market many have described as foggy, July price-hike initiatives of 2-5 cents/lb ($44-110/tonne, €33-83/tonne) surfaced but were largely rebuffed, despite strong acetone demand and supply limits stemming from reduced phenol production.

“The market is in disarray,” a seller said. “Refinery-grade propylene [RGP] is not as soft as people think.”

Buyers saw the market as essentially balanced, but were able to successfully push back against the hike initiatives, based on the uncertainty of upstream RGP pricing, sources said.

The rollover held truck acetone prices in the range of 69-73 cents/lb, as assessed by ICIS, although some sources suggested there were few deals to be found above 71 cents/lb.

In the barge market, a second US buyer has confirmed that its contracts settled up by 1 cent/lb for July, but other participants were still negotiating. June’s barge acetone contract price previously increased by 4.5 cents/lb.

Major US phenol-acetone producers include Axiall, Dow Chemical, Haverhill Chemical, Honeywell, INEOS Phenol, SABIC Innovative Plastics and Shell Chemical.

($1 = €0.75)


By: Larry Terry
1 713 525 2653



AddThis Social Bookmark Button

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.

Printer Friendly

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