31 May 2011 20:08 [Source: ICIS news]
HOUSTON (ICIS)--The US maleic anhydride (MA) contracts for June are likely heading for a rollover based on stable feedstock costs, sources said on Tuesday.
No announcements emerged for June contracts, according to several major MA producers.
Prices for feedstock normal butane, or n-butane, were largely expected to remain stable in the 180s cents/gal. Spot butane was 181.50 cents/gal (€.34/litre) on 27 May.
“With oil coming down, it seems like there’s a little break in oil pricing, so the butane will come down with it,” said one MA buyer.
MA supply was considered snug on two producers having planned outages during the month of May.
May contracts were assessed higher by 4 cents/lb ($88/tonne, €62/tonne) as producers implemented an increase based on tight supply and then-rising butane prices.
Major US MA producers include Ashland, Huntsman, LANXESS and Flint Hills Resources.
($1 = €0.70)
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