17 May 2010 20:57 [Source: ICIS news]
HOUSTON (ICIS news)--First-quarter US cumene production rose by 26% year over year as sales increased along with the strengthening global economy, the National Petrochemical & Refiners Association (NPRA) said on Monday.
Cumene production totalled 1.84bn lb (835m tonnes) in the first quarter, up 28% from 1.44bn lb in the fourth quarter and 26% from 1.46bn lb a year earlier, the NPRA said.
Cumene demand grew steadily through 2009 after reaching a low point when the chemical market crashed with the rest of the global economy at the end of 2008, buyers and sellers said.
The cumene formula price was assessed at 53.00-54.00 cents/lb ($1,168-1,190/tonne or €946-964/tonne), up from 27.00-28.00 cents/lb one year ago, according to data from global chemical market intelligence service ICIS pricing.
The cumene formula price is based on benzene and refinery grade propylene (RGP) prices.
The NPRA data was based on input from Blue Island Phenol, Citgo, Dow Chemical, Flint Hills Resources, Georgia Gulf, INEOS, Marathon, Shell and Sunoco.
($ = €0.81)
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