Petrochemicals in Brief

04 June 2001 00:00  [Source: ICB Americas]

Acetone The contract price for acetone sold to the methyl methacrylate market settled at 16.75c. per pound for the second quarter. Acetone for other uses is in the low-to-mid-20s. Producers blame weak demand and the slowdown of the overall economy.

Benzene Spot benzene trade is thin. Bidding for June and July material is around $1.12 to $1.14 per gallon. Buyers are seeking lower prices.

Nonene The Plaza Group, Houston, is adding a surcharge of 4c. per pound, about $90 per metric ton, to sales of nonene, heptene and octene in response to a run-up in feedstock costs, particularly motor gasoline, during the past 60 days. Nonene is priced in the mid-to-high-20s. Heptene and octene are around 50c. per pound. The Plaza Group has signed a long-term agreement to market 20,000 metric tons of nonene per year on behalf of Petroleos de Venezuela SA.

Phenol Producers say the market is quiet and in balance. "Capacity is higher than demand, but producers are generally running at about 85 percent, keeping actual supplies in balance," a seller says. "Market pricing is in the high-20s to low-30s [28c. to 32c. per pound]. List pricing is much higher and not representative of the market."

Xylenes The market for xylenes is stabilizing, and toluene is trading close to its blend value in gasoline, according to Teresa A. Acosta, managing director of DeWitt & Co. Xylenes have eased to around $1.35 per gallon after peaking at $1.39. Toluene is around $1.18 to $1.19 per gallon.

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