HOUSTON (ICIS)--US July barge acetone contracts reached an initial settlement up 1.3%, sources said on Wednesday.
The 0.5 cent/lb ($11/tonne) increase, if fully accepted, would put contracts at 40.5 cents/lb on a DEL (delivered) via barge basis.
Most sources said the increase was in line with expectations, as upstream refinery-grade propylene (RGP) was up slightly through mid-July.
Supply of acetone also remains slightly snug, and demand from large-volume barge buyers has been strong.
The US barge acetone contract is typically settled between two large producers – INEOS Phenol and Shell Chemical – and the three largest buyers – Dow Chemical, Evonik and Lucite.