07 May 2012 21:47 [Source: ICIS news]
US buyers said the butac distributor price had fallen to 95-100 cents/lb ($2,095/tonne-2,205/tonne, €1,592-1,676/tonne) from the previous 100–105 cents/lb. The contract price fell to 90-94 cents/lb, from the previous 95-99 cents/lb, and spot free on board (FOB) prices dropped to 85-89 cents/lb, from the prior 90-94 cents/lb.
Butac is sold mainly through distributors in the US.
Butac prices jumped in early April on a rise in propylene, but that feedstock has fallen back in recent weeks. Spot chemical-grade propylene (CGP) traded in the past week at 63.00-63.50 cents/lb, down by 18% from a high of 77 cents/lb in early April, according to ICIS.
Butac prices also dropped in late April on falling propylene.
Major US butac producers include Dow Chemical, Eastman Chemical and Oxea.
($1 = €0.76)
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