07 May 2010 23:59 [Source: ICIS news]
LONDON (ICIS news)--The European May phenol contract price has decreased by €49/tonne ($62/tonne) from April due to the lower May benzene contract price, phenol buyers and sellers said on Friday.
“Phenol is down with benzene, despite a lack of material,” confirmed a European producer.
The May phenol contract settled at a pre-discounted price of €1,328-1,368/tonne FD (free delivered) NWE (northwest ?xml:namespace>
The May benzene contract settled at €834/tonne FOB (free on board) NWE, also down €49/tonne from the previous month.
“The May contract is down €49/tonne with benzene as usual, but supply remains tight,” said a major buyer.
Despite the European phenol market’s incredibly tight supply situation, which was because of various planned and unplanned production issues, almost 100% of phenol contracts continue to be linked to benzene-related price formulae.
The main chemical intermediates and derivatives of phenol are bisphenol A (BPA), which is used to make polycarbonate (PC), and epoxy resins, phenolic resins, caprolactam, alkylphenols, aniline and adipic acid.
($1 = €0.79)
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