The April US contract price for acetone settled 1.25 cents ($27.56/mt) lower at 67.25 cents/lb ($1,482.59/mt), sources said Monday.
Market participants expected the contract to decrease, but anticipated a 2-3 cents decline because of slow demand.
Several turnarounds are currently under way and will take place throughout May, but market impact will be minimal as there are turnarounds on both the producer and consumer sides of the market, sources said, adding that acetone activity will be quiet in May as a result.
Weak demand and oversupply in phenol will also mute market activity, sources said.
US spot acetone was assessed April 22 at $1,312/mt FOB USG.
The March settlement was at 68.50 cents/lb, a rise of 1.5 cents/lb compared with February, sources said.
The acetone contract typically settles retroactively.
