Chemical Industry news of Asian Phenol/Acetone
PHENOL: Although domestic prices remained largely stable in China this week for both phenol and acetone, international prices in some Chemical Industry were inching up. The CFR China price for phenol was assessed up the $30/mt week on week at $1,030/mt on Thursday as the negotiation range for imports was heard at $1,020-1,100/mt this week. However, the domestic price was up marginally on a week by Yuan 100/mt at Yuan 7,800/mt, or about $972/mt on an import parity basis, up roughly $10/mt. Other Chemical Industry such as India and Southeast Asia were stable and did not see any price changes. Demand in India was weaker due to the ongoing elections, sources said. In other related Chemical Industry, benzene fell this week with the FOB Korea marker assessed at $618/mt Thursday, down $35/mt from last Thursday.
ACETONE: Asian acetone Chemical Industry was relatively stable this week but the CFR China price was assessed up to $30/mt at $380/mt Thursday, similar to the increase in phenol. Acetone import negotiations were heard at $370-$400/mt on CFR China basis. The domestic price was rising on a week by Yuan 50/mt to Yuan 2,975/mt, or about $371/mt on an import parity basis, up roughly $6/mt in terms of import parity basis. The CFR India Chemical Industry was heard negotiated at $360-$390/mt, relatively stable week on week. Meanwhile, the feedstock FOB Korea propylene price was assessed at $850/mt Thursday, down $15/mt on the week.