US October barge acetone contract slips for second month

31 October 2013 20:06  [Source: ICIS news]

HOUSTON (ICIS)--The US October barge acetone contract settled down for the second straight month, most market participants confirmed on Thursday.

The large-buyer acetone contract fell by 1.75 cents/lb, taking the October barge price to 63.50 cents/lb ($1,400/tonne, €1,022/tonne), as assessed by ICIS.

In the small-buyer solvents market, US October truck contract prices were assessed down by an average of 3 cents/lb on similar fundamentals.

Truck and barge values were pressured downward by a combination of weaker feedstock, year-end inventory-reduction efforts and attempts to gain market-share, market sources suggested.

The October benzene contract fell by 3 cents/gal to settle at $4.37/gal. The November benzene contract is expected to settle lower within the week.

The overall acetone market continued balanced to snug, with co-product phenol operating rates still at 65-70% on poor demand and practically no export market.

The US barge acetone contract is typically negotiated between three large producers – Georgia Gulf, INEOS Phenol and Shell – and the three largest buyers – Dow Chemical, Evonik and Lucite.

($1 = €0.73)

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

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