01 April 2012 20:57 [Source: ICIS news]
SAN ANTONIO, Texas (ICIS)--More US phenol contracts could switch to seeing premiums over benzene negotiated on a quarterly basis, a buyer said on Sunday on the sidelines of the International Petrochemical Conference (IPC).
The buyer said it had switched to more frequent negotiations, and that its second quarter premium over benzene fell by 0.50 cents/lb ($11/tonne, €8/tonne) from first-quarter levels.
“It just gives you more flexibility to adjust to what the market is doing,” the buyer said.
Traditionally, phenol market players negotiate their premium over feedstock benzene for the entire year. Sources said the 2012 premium was between 14-18 cents/lb for most phenol buyers.
Hosted by the American Fuel & Petrochemical Manufacturers (AFPM), the IPC continues through Tuesday.
($1 = €0.75)
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