Asian acetone prices were lower this week amid falling feedstock prices as well as ample supply and sluggish demand. Domestic prices in China were also dipping this week. Meanwhile, phenol prices were stable to firm in Northeast Asia but moving lower in South Asia. Feedstock benzene prices were also weakening this week.
PHENOL: The CFR China and domestic China market was stable to firmer this week, market sources said, with tight spot supply being mentioned as a key reason for that. Domestic prices were stable week on week at Yuan 9,050/mt, or about $1,101.60/mt on an import parity basis, with a market source in the domestic market saying that the demand-supply balance was stable this week. A bonded cargo was heard traded at $1,200/mt and a CFR China cargo heard traded at $1,180/mt. The CFR China marker was assessed unchanged week on week at $1,180/mt on Thursday. CFR India prices were moving lower this week though, with a trader saying sentiment was weakening at the moment. An offer was heard at $1,240/mt CFR India and an India-based trade source estimated the tradable level to be close to $1,200/mt CFR India. The marker was assessed lower on week by $30/mt to $1,220/mt CFR India. In upstream benzene, the benchmark FOB Korea price fell $20/mt week on week to $602/mt on Thursday.
ACETONE: The CFR China marker was assessed lower week on week by $25/mt to $425/mt, around the traded levels heard this week. Domestic prices in China were also heard down by Yuan 150/mt to Yuan 3,400/mt, or about $413.90/mt on an import parity basis. Lower propylene prices were heard to be among the reasons why prices were sliding this week. The FOB Korea propylene price fell by $30/mt week on week to $885/mt on Thursday. Acetone prices in India were also falling, with deals heard done around same levels as for CFR China. The CFR India marker was assessed lower by $65/mt on week to $430/mt on Thursday.