The European acetone market maintained its bearish trend in the third week of June xxxx, under pressure from weak, persisting downstream demand and a subdued economic environment. News of recent long-term supply tightenings, such as INEOS&#xx;s announced shutdown of its Gladbeck, Germany, phenol and acetone facility, has not been enough to alter the deeply bearish market fundamentals. Acetone procurement remains cautious among buyers, with only critical volumes being bought in fear of macroeconomic uncertainty and oversupply.
Acetone suppliers are maintaining offers but are hesitant to lower them further, considering already thin margins. In the meantime, volumes in trade are restricted by small-scale, contract-based deals. The overall acetone market view is still unclear, with downstream consumption having no short-term prospect of picking up.
Piling on to market pressure, Germany&#xx;s chemical industry experienced a xx fall in production during Hx xxxx, with...
