The Chinese Acetone Market Moved Marginally This Week (May 11-17, 2018)

The Chinese acetone market declined first and then increased this week. The overall trading was flat and operation was cautious. Up to May 17, the closing prices for acetone in Jiangsu were in the range of RMB 5,300-5,350/mt, down RMB 150/mt or 2.74% week on week. At the beginning of this week, the Chinese acetone market inched down. The supply at ports was ample. The downstream demand was weak. Holders cut down prices to promote sales, but the buying interest was still low. Acetone market prices continued moving down. Some players estimated that acetone producers might continue to cut down prices. However, acetone producers didn’t cut the prices further. With the declines in supply of low-priced goods, the market prices rebounded. Holders became cautious.