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Wednesday, July 6, 2022

US September acetone contracts settle 5 cents lower at 26 cents/lb

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.

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