11 June 2012 16:48 [Source: ICIS news]
HOUSTON (ICIS)--US June contract prices for butyl glycol decreased by about 5% in June from the prior month because of lower feedstock costs, market sources said on Monday.
June contract prices for butyl glycol (EB) have been assessed in a range of 91-95 cents/lb ($2,006-2,094/tonne, €1,605-1,675/tonne) DEL (delivered) before discounts, down from the May assessment of 97-99 cents/lb as sellers reacted to prices for feedstock butanol and upstream olefins.
Traders said that further glycol ether price declines are expected later in June as producers scramble to keep pace with declining prices for ethylene and propylene.
US polymer-grade propylene (PGP) contracts for June fell last week by 15.50 cents/lb from May to hit a 30-month low.
June PGP contracts settled at 52 cents/lb on Thursday, a drop of roughly 23% from May and the lowest level since 49.50 cents/lb in November 2009.
The reduction, which put chemical-grade propylene (CGP) at 50.50 cents/lb, was the second in as many months as the US contract shed 10 cents/lb in May.
($1 = €0.80)
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