The US acetone contract price for September settled at 26 cents/lb ($573.20/mt), down 5 cents/lb ($110.23/mt) from August, sources said Tuesday.
September’s contract price was expected to drop as a result of lower feedstock refinery-grade propylene prices and weak acetone demand against ample supply, sources said.
Refinery-grade propylene prices have been hovering in the 15-17.25 cents/lb range lately, about half of what they were in mid-June, according to Platts data.
The acetone contract price typically settles retroactively.
Export price indications for acetone were in the upper 20 cents/lb Tuesday, while domestic indications were in the mid- to upper-30 cents/lb range, sources said.