US cumene prices fall slightly on propylene

25 February 2008 19:43  [Source: ICIS news]

HOUSTON (ICIS news)--The US cumene formula contract price for February dropped by less than 1 cent/lb to 53.64 cents/lb free on board (FOB) US Gulf as a result of drop in refinery grade propylene (RGP) sales, sellers said on Monday.

The cumene formula price of $1,182/tonne (€792/tonne) was based on the cost of benzene and the price of RGP.

The US February benzene contract settled at a gain of 9 cents to $3.54/gal FOB, according to global chemical market intelligence service ICIS pricing.

However, refinery grade propylene (RGP) dropped 3.5 cents/lb to 52.5-53.0 cents/lb for February sales.

When it came to cumene formula pricing, lower RGP prices cancelled out the higher benzene settlement.

Flint Hills, Sunoco, Georgia Gulf, and Koch Industries are among the major US suppliers.

($1 = €0.67)

 

For more on cumene visit ICIS chemical intelligence

By: Heather McGuire Doyle
+1 713 525 2653

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