The settlement came as no surprise according to market participants because of firm acetone pricing and market fundamentals throughout May.
Acetone prices have held firm in the spot market despite tight supply and slightly higher feedstock refinery-grade propylene prices. Market participants described demand as steady.
Prices could increase amid expectations of higher RGP and tight supply throughout the summer, sources said.
The contract price for April settled down 7.5 cents/lb ($165.35/mt) from March at 58.50 cents/lb on lower RGP prices.
