Intermediates news in brief

21 May 2012 00:00  [Source: ICB]

European polyol contract prices largely rolled over into May, with lower upstream costs being weighed against margin recovery and balanced market conditions. While there was a general stable pricing trend for slabstock conventional polylols in May, in terms of actual numbers, prices were reported in a narrower range of €1,850-1,950/tonne ($2,362-2,489) FD (free delivered) NWE (Northwest Europe). For rigid polyols, prices are largely steady for May owing to a number of quarterly contracts for which prices were fixed for the rest of the quarter following increases in April. For monthly business, there was a mix of settlements, but prices were largely confirmed unchanged in the €2,000s/tonne FD.

US April acrylonitrile (ACN) formula-based contract prices dipped an average of 6% month on month for domestic delivered material, primarily on a decline in the May contract prices for propylene. The April DEL (delivered) ACN contract price range for domestic customers was assessed at $1.0278-1.0710/lb ($ 2,266/tonne, €1,773/tonne) down from the March range of $1.1011-1.14/lb. The contract price range for exported ACN material shipped FOB (free on board) was assessed at 97.64-103.19 cents/lb, up from 96.98-99.79 cents/lb.

US May cumene contract prices slipped by 4.5%, tracking cheaper feedstock levels and softer demand. Settlements were assessed at 62-64 cents/lb ($1,367-1,411/tonne, €1,053-1,086/tonne) on an FOB (free on board) basis, a drop of 3 cents/lb from April's settlement of 65-67 cents/lb FOB. The greatest factor in shift was the price of feedstock refinery-grade propylene (RGP), which shed more than 10 cents/lb in May from April.

By: Clay Boswell
+1 713 525 2653

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