Feb phenol rises €35/tonne, following benzene

08 February 2008 23:59  [Source: ICIS news]

LONDON (ICIS news)--European phenol contract prices linked to benzene have risen €35/tonne ($51/tonne) in February to €1,211-1,251/tonne, in line with upstream movements, market sources said on Friday.

The pre-discounted phenol contract range was pegged at €1,211-1,251/tonne on a FD (free delivered) NWE (northwest Europe) basis by global chemical market intelligence service ICIS pricing.

The rise in phenol contract numbers followed the €35/tonne hike on the February benzene contract, which was agreed at €737/tonne FOB (free on board) NWE.

The European phenol market remained tight, with the ongoing force majeure of INEOS Phenol adding to the snug sentiment.

European phenol spot trade remained almost non-existent due to the absence of available quantities. Based on last heard business and market sentiment, prices were assessed at €1,370-1,450/tonne FD NWE.

European phenol producers include INEOS Phenol, Borealis, Polimeri, and Ertisa.

($1 = €0.69)

For more on phenol visit ICIS chemical intelligence

By: Carl Roache
+44 20 8652 3214

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