04 April 2014 19:56 [Source: ICIS news]
LONDON (ICIS)--Europe acetone spot prices have dipped slightly on the low end and the range has widened on improved availability, sources said on Friday.
Spot prices are at €910-970/tonne FD (free delivered) NWE (northwest Europe).
Softer prices are being attributed to eased supply constraints, stable demand and some assumption in the market that a supplier is looking to offload its stockpiles.
One trader said: “Demand is there, is OK but nothing really special. Prices have been a bit lower. With propylene higher, it is a bit surprising. Is phenol better to make more acetone, or is it April and Easter putting a dampener on things?”
It said that May demand might improve and prices might rise. “I cannot accept that acetone is going significantly down. The second quarter has just started,” the trader said.
UK prices also saw slight erosion this week despite the April contract rise. There is a general expectation that demand is now not likely to pick up until after Easter.
Prices are at around £800-840/tonne FD. “The steam has run out of it, even though the April contract is up. Demand is so-so," the trader said. "I don't see anything happening between now and the end of Easter.”
Follow Helena Strathearn on Twitter
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.
|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|
Asian Chemical Connections