Contracts settled at 54.25 cents/lb ($1,196/tonne) DEL (delivered), up by 0.5 cent/lb.
Contract prices continue to tick upward, tracking an uptrend in RGP prices despite lengthening supply.
Operating rate remain strong, exacerbating the oversupply situation, because of high demand and attractive export margins for co-product phenol.
Acetone demand is strong, but it has been outstripped by supply.
Acetone margins have become compressed as a result of oversupply and high costs for RGP, weighing on producers' overall margins.
The US barge acetone contract is typically settled between two producers – INEOS Phenol and Shell Chemical – and the three largest buyers – Dow Chemical, Evonik and Lucite.
Photo by Jochen Tack/imageBROKER/REX/Shutterstock