04 June 2010 21:10 [Source: ICIS news]
Buyers and sellers said the June formula price has moved down to 44-45 cents/lb ($970-992/tonne, €795-813/tonne).
The June price was 9 cents/lb less than the May contract of 53-54 cents/lb, according to ICIS pricing.
The cumene formula price was driven by feedstocks refinery grade propylene (RGP) and benzene.
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The June benzene price was agreed upon at $2.95/gal ($897/tonne) on FOB (free on board) US Gulf (USG) terms. That compared with the May contract at $3.52/gal FOB USG.
Meanwhile, the average RGP price fell 10 cents to 42 cents/lb.
Blue Island Phenol, Citgo, Dow Chemical, Flint Hills Resources,
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