Chinese Acetone Market Fluctuated Up in Apr 2018

In April 2018, the Chinese acetone market fluctuated up. The overall trading was modest. Up to April 30, 2018, reference negotiation prices for acetone in Jiangsu and Zhejiang were around RMB 5,650/mt, up RMB 525/mt or 10.24% month on month. The average price was RMB 5,510/mt, increasing RMB 240/mt or 4.55% month on month. Echemi Mall

In H1 April, propylene prices moved up. Few acetone producers raised prices. Chinese acetone producers increased prices by RMB 300/mt. Holders in the Chinese market were unwilling to sell goods at low prices. Mainstream prices inched up. In H2 April, the Chinese acetone market prices became stable. Phenolic ketone units at Sinopec Beijing Yanshan Company were shut and the phenol unit at Formosa Industries (Ningbo) continue to be shut. The phenolic ketone unit at Lihuayi was shut for 3 days. The supply in the Chinese market declined. The inventory at ports was less than 20kt. Producers were bullish about the market while the demand was tepid. The overall trading was weak.