Petrochemicals in Brief

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

BTX Benzene pricing continues to fall as the gasoline market softens. August bids and offers are 80c. to 85c. per gallon and July material is around 75c. As crude oil margins retreat, toluene and xylenes continue to soften. Toluene is 92c. to 95c. per gallon and xylenes are $1.15 to $1.20.

ETHANOL The Dow Chemical Company will raise the selling prices of its ethanol products by 15c. per gallon and its isopropanol by 2c. per pound in North America, effective July 1, or as contracts allow.

ETHYLENE GLYCOL The Commodity Consultants Group, Houston, rates antifreeze-grade ethylene glycol in a net contract range of 20.5c. to 24c. per pound. Spot antifreeze-grade glycol is 22c. to 23c. per pound.

"Although at least one producer is discussing the idea of raising EGAF contract prices as early as July 15, most observers do not expect any moves to raise levels until August 1," notes George West, president of CCG. "Spot levels appear increasingly stable and Far East contract nominations as well as spot transactions, are also up. Contract increases in August will likely cover EGAF, while EGAI and EGF hikes are possible in October."

METHANOL The Commodity Consultants Group, Houston, has lowered its transaction, f.o.b. price for methanol from a range of 71c. to 77c. per gallon in April and May to 67c. to 77c. for June. Prompt spot methanol in barges, f.o.b. the US Gulf, is 50c. to 52c. per gallon, and prompt spot material in trucks and railcars, f.o.b. terminals in Houston and Southern Louisiana, is 72c. to 76c. per gallon. MTBE in barges, f.o.b. the US Gulf, is $1.02 to $1.03 per gallon.

George West, CCG's president, says the domestic methanol market remains healthy despite low raw material costs and faltering derivative demand. MTBE pricing is relatively weak, formaldehyde sales are soft and acetic acid demand is off, partly because of new capacity in Asia.

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