06 September 2013 20:04 [Source: ICIS news]
LONDON (ICIS)--Europe spot acetone prices have spiked this week to reach a level last seen in May, on the back of higher feedstock costs, tight supply and slightly improved demand, sources said on Friday.
Towards the end of August, market participants had expected spot acetone prices to climb in early September, with renewed demand from the solvents sector, following the traditional holiday period in August.
“For spot, we are looking at €1,000/tonne FD [free delivered] NWE [northwest Europe], nothing below,” a producer said.
A trader said: “I believe it will be €1,020-1,040/tonne FD NWE for a single truck for delivery in September. If somebody wants to buy 10 trucks, it will not be available."
Spot acetone prices in Europe this week are at €960-1,000/tonne FD NWE.
The European September acetone methyl methacrylate (MMA) contract price has risen by €48/tonne from the previous month, on the back of an increase in the feedstock propylene contract price, sources confirmed on Friday.
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($1 = €0.76)
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