21 June 2011 17:52 [Source: ICIS news]
HOUSTON (ICIS)--The US maleic anhydride (MA) market is preparing for a second monthly rollover in a row for July contracts as a result of stable feedstock costs, sources said on Tuesday.
Contracts are likely to roll over from June prices, two major MA sellers said. Prices for feedstock normal butane (n-butane) have hovered at the 180 cents/gal level since mid-May.
One market participant said demand in June has started to taper, particularly in the last half of the month, compared with overall demand in May. The source said that demand is historically slow in July for unsaturated polyester resins (UPR), a major end-use application for MA.
June prices are at 87.2–93.2 cents/lb ($1,922–2,055/tonne, €1,345–1,439/tonne) FOB (free on board) USG (US Gulf) for molten material, as assessed by ICIS.
UPR is used in manufacturing fibreglass. Other applications for MA include lube oil additives and food additives.
US MA producers include Flint Hills Resources, Huntsman, Ashland and Lanxess.
($1 = €0.70)
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