US August cumene prices climb on feedstock

19 August 2008 20:44  [Source: ICIS news]

HOUSTON (ICIS news)--US cumene contract prices for August edged up slightly as a surge in feedstock benzene costs offset a slump in propylene prices, buyers said on Tuesday.

The August formula-based price edged up 1% from July to 69.97-70.94 cents/lb ($1,543-$1,563/tonne) free on board (FOB) US Gulf, according to data from global chemical market intelligence service ICIS pricing.

The cumene formula price is based on the costs of refinery grade propylene (RGP) and benzene.

The US August benzene contract settled at a record high of $4.45/gal ($1,335/tonne) a gain of 27-29 cents. The previous benzene record was set in June at $4.31/gal FOB.

RGP was assessed at 72.5-75.0 cents/lb for August. The propylene price for July had been assessed at up to 78 cents/lb.

Cumene suppliers include Flint Hills Resources, Georgia Gulf, INEOS Phenol, Sunoco, Blue Island Phenol and Shell.

($1=€0.68)

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For more on cumene visit ICIS chemical intelligence

By: Heather McGuire Doyle
+1 713 525 2653

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