London — UK-based petrochemicals producer Ineos has fully returned to the spot acetone and phenol markets following the conclusion of its Gladbeck, Germany turnaround, according to several market sources.
Receive daily email alerts, subscriber notes & personalize your experience.Register Now
The company was not immediately available for comment but does not comment normally on production.
European phenol markets have turned uncharacteristically tight with Cepsa, Versalis, Novapex and Domo all confirmed to be suffering from a shortage of product.
The producers are also tight on acetone but imports from Asia have helped alleviate the shortfall.
Ineos began the turnaround at the beginning of September.
The shutdown was originally planned for 30 days, a company source said in February.
The plant has an annual capacity of 650,000 mt and is one of two acetone/phenol plants in Europe owned by Ineos.
The other, in Antwerp, has a capacity of 680,000 mt/year.
The spot acetone price was last assessed Eur30 higher on the week at Eur850/mt ($998/mt) FD NWE Tuesday while spot phenol prices were assessed Eur51 higher at Eur943/mt as its premium to feedstock benzene increased by Eur25 on the week to Eur265/mt.
--Michael Samueli, firstname.lastname@example.org