US Oxy Solvents: Lower feedstock values pressure acetone prices

ACETONE: Acetone prices were talked lower this week as market length and lower feedstock values continued to pressure pricing. Sources this week talked pricing in the high-20 to low 30 cents/lb range amid unchanged fundamentals. Sources said that market length remained a concern and participants awaited a decision from The US International Trade Commission on a petition to implement anti-dumping duties on material from Belgium, Saudi Arabia, Singapore, South Africa, South Korea and Spain, sources said. The initial decision was expected in early April. Upstream refinery-grade propylene values were stable on the week, assessed at 20 cents/lb Thursday. The T2 price was assessed at $777/mt DER. Break-even costs were steady at near 16 cents/lb, according to S&P Global  data.

PHENOL: US phenol prices were assessed steady on the week following gains seen last week. Phenol prices rose in March, driven by a stronger benzene contract which rose 9 cents from February to settle at 202 cents/gal. The market remained tight and adders to the benzene contract were last heard at 18-20 cents on top of the benzene contract. Domestic pricing also was heard stable with adders talked at 15-17 cents above the benzene contract. Break-even costs were estimated at $802/mt, according to S&P Global  data. In Asia, phenol prices rose on the week with the CFR China assessment rising $10 on the week to close at $1,190/mt.

IPA: Export and domestic isopropyl alcohol prices were unchanged on the week Thursday at $1,202/mt FOB USG and $1,246/mt delivered. In the absence of fresh indications, the assessments considered stable pricing for upstream refinery-grade propylene. RGP prices were flat on the week Thursday at 20 cents/lb, maintaining levels seen since the end of February. ETAC: The ethyl acetate export and domestic assessments were assessed at $956/mt FOB USG and $1,000/mt delivered, level on the week. The assessment considered stable to slightly lower pricing in upstream markets. Acetic acid pricing was stable on the week Thursday at $588/mt FOB USG while ethylene prices closed Thursday at 15 cents/lb, down just 25 points from the previous Thursday.

BUTAC: Butyl acetate pricing softened $22/mt on the week Thursday, closing at $1,123/mt FOB USG and $1,167/mt delivered. The assessment took direction from weaker upstream pricing, with normal butanol pricing having dropped $100/mt Thursday to $840/mt amid weak feedstock propylene prices and a lack of export volume ability. Conversely, acetic acid pricing was stable on the week Thursday at $588/mt FOB USG.

INDUSTRIAL ETHANOL: Industrial ethanol pricing was unchanged Thursday to close at 269 cents/gal FOB DSP for 190-proof and 294 cents/gal FOB DSP for 200-proof. The assessment considered the Chicago Argo assessment, which softened 3 cents on the week to end Thursday at 130.50 cents/gal. The spread between the 190- and 200-proof grades typically ranges between 15-25 cents/gal, per market feedback.

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