27 March 2011 22:59 [Source: ICIS news]
SAN ANTONIO, Texas (ICIS)-The kicker added on to US phenol contracts based on the benzene-plus model is widening, several sources said on Sunday.
Traders and producers speaking on the sidelines of the International Petrochemical Conference (IPC) said the range of the kicker on US phenol contracts is between 8-16 cents/lb ($176-353/tonne, €125-251/tonne) depending on buyer size and delivery method.
A producer pegged the range higher, saying that most contracts were being done above 12 cents/lb, and that negotiating a kicker at 10 cents/lb was “very competitive”.
However, a trader said most US buyers were able to play producers against each other, netting kickers that were closer to 8 cents/lb.
Hosted by the National Petrochemical & Refiners Association (NPRA), the IPC continues through Tuesday.
($1 = €0.71)
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