AFPM ’12: US phenol contracts may move to quarterly benzene premiums

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)


By: John Dietrich
713-525-2600



AddThis Social Bookmark Button

For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.

Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.

Printer Friendly