02 July 2010 22:41 [Source: ICIS news]
July formula-based cumene prices dropped to 42-43 cents/lb.
The US July benzene contract settled at $2.82/gal, down 13 cents/gal, or 4%, from June.
The cumene formula price is driven by feedstocks benzene and refinery grade propylene (RGP).
The RGP spot average dropped to 40 cents/lb, down by 2 cents/lb from last month’s spot average.
Major US producers of cumene include Blue Island Phenol, Citgo, Dow Chemical, Flint Hills Resources, Georgia Gulf, INEOS, Marathon, and Shell.
($1 = €0.80)
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