SUBSCRIBER NOTE: Platts reissues European oxysolvents commentary for Sep 12

S&P Global Platts has reissued the weekly commentary for European oxygenated solvents for September 12, 2017, to restate the premium of spot phenol over benzene. The premium was misstated in the September 12 commentary published on Platts Petrochemical Alert page 399 and in Solventswire. The acetone/phenol part of the commentary now reads: European spot acetone prices gained Eur90/mt over the week to Eur900/mt ($1,076.25/mt) FD NWE amid newfound tightness following a turnaround at key European suppliers. Italian petrochemicals producer Versalis and UK-based petrochemicals producer Ineos both recently commenced planned works at their respective plants. Versalis' Mantova plant has a phenol production capacity of 300,000 mt/year, with co-product acetone output capacity of 185,000 mt/year. It was unclear how long the plant would be down, but market sources reported between 2-4 weeks. Meanwhile, Ineos' plant in Gladbeck, Germany, has a far larger annual capacity of 650,000 mt of combined acetone and phenol. It is one of two acetone/phenol plants in Europe owned by Ineos. The other, in Antwerp, Belgium, has a capacity of 680,000 mt/year. Sources reported import material continuing to be available, however, at lower volumes. "There are some stocks in Europe but I believe suppliers are holding off for higher prices," one source said. Meanwhile, spot phenol markets faced potential tightness due to the turnarounds, with the premium to benzene widening by Eur30/mt over the week to Eur255/mt. Spot phenol prices moved in line with the feedstock's moves and were assessed Eur9/mt higher on the week at Eur900/mt FD NWE and at parity to acetone prices. There has been no correction to phenol prices. The reissued commentary is available on PCA 399. Please send questions and comments to pl_petchems_ln@spglobal.com with copy to pricemethodology@spglobal.com.