The acetone spot market has quickly moved from a balanced to tight market, partly due to restocking, pre-buying ahead of further feedstock increases and cutbacks in phenol production at the end of 2011.
However, the main reason for the heightened demand and rising prices is major turnarounds planned at CEPSA Quimica in February and INEOS Phenol in April.
Major producers Swiss-based INEOS Phenol and Spain's CEPSA Quimica both confirm to be in a sold-out position in terms of spot availability.
INEOS Phenol quoted spot acetone at €830/tonne FCA which is €860-870/tonne FD NWE.
CEPSA Quimica expects to see spot acetone hitting the €1,000/tonne FD mark by the end of the month.
“Acetone prices are exploding a little too strong. But finally everybody realised that availability in Europe is reduced, although I have been saying this since December,” said a southern Europe-based producer.
The producer said demand was strong from every downstream sector of the acetone market.
“Polycarbonate is running at full speed. All of this, combined with the propylene increase are pushing prices up,” the producer added.
Meanwhile, the European February acetone methyl methacrylate (MMA) contract price has settled at a pre-discounted €898/tonne FD NWE this week, up by €72/tonne from January on the back of the increase in the propylene contract.
The major consumer involved in the contract settlement felt that the European acetone market was balanced.
Indeed, a major buyer of acetone for MMA production said contracts were being honoured.
Bisphenol A(BPA) customers also said they had not experienced any problems in securing their contract volumes.
($1 = €0.76)
The acetone spot market has quickly moved from a balanced to tight market, partly due to restocking, pre-buying ahead of further feedstock increases and cutbacks in phenol production at the end of 2011.However, the main reason for the heightened demand and rising prices is major turnarounds planned at CEPSA Quimica in February and INEOS Phenol in April.Major producers Swiss-based INEOS Phenol and Spain's CEPSA Quimica both confirm to be in a sold-out position in terms of spot availability.INEOS Phenol quoted spot acetone at €830/tonne FCA which is €860-870/tonne FD NWE.CEPSA Quimica expects to see spot acetone hitting the €1,000/tonne FD mark by the end of the month.“Acetone prices are exploding a little too strong. But finally everybody realised that availability in Europe is reduced, although I have been saying this since December,” said a southern Europe-based producer.The producer said demand was strong from every downstream sector of the acetone market.“Polycarbonate is running at full speed. All of this, combined with the propylene increase are pushing prices up,” the producer added.Meanwhile, the European February acetone methyl methacrylate (MMA) contract price has settled at a pre-discounted €898/tonne FD NWE this week, up by €72/tonne from January on the back of the increase in the propylene contract.The major consumer involved in the contract settlement felt that the European acetone market was balanced.Indeed, a major buyer of acetone for MMA production said contracts were being honoured.Bisphenol A(BPA) customers also said they had not experienced any problems in securing their contract volumes.($1 = €0.76)
การแปล กรุณารอสักครู่..
