HOUSTON (ICIS)–US April barge acetone contracts fully settled on Friday down 9.8% from March levels.
The 5.25 cent/lb ($116/tonne) decline puts contracts at 48.5 cents/lb on a DEL (delivered) via barge basis.
Some sources said the decline was in line with expectations, while others expected a steeper fall.
Upstream refinery-grade propylene (RGP) fell by around 6 cents/lb on a weighted average basis, but closed the mid-month to mid-month period trending lower.
This led some buyers to push for steeper April decline, which they said will now likely take place in May, given that the current RGP spot price will start around 6 cents/lb lower than the most recent weighted average value.