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European acetone spot prices drifted lower this week

September 09/2011

(ICIS) -- European acetone spot prices drifted lower this week with many market participants on Friday blaming a tip in the supply/demand balance as well as concerns over an economic slowdown. While some sellers said their demand was steady and "as expected" for September, others spoke about a much slower-than-expected start to September.


In terms of pricing, spot numbers have been on a gradual decline since peaking in April this year at ?1,100-1,185/tonne FD (free delivered) NWE (northwest Europe).


During this time, spot business hit a record high of ?1,400/tonne ($1,944/tonne) into Italy. However, this week prices dropped to the mid-to-low ?700s/tonne in parts of northwest Europe.


But in the trade and distribution sector, a reseller said levels of  ?750-780/tonne FD NWE, were old numbers and that in order to move any cargoes now he would have to offer at a lower level. Another Netherlands-based reseller said that to move any material it would have to buy at ?680-690/tonne on a free carrier alongside (FCA) basis.

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