17 July 2012 21:55 [Source: ICIS news]
Butac distributor prices, the most popular range, fell to 84-89 cents/lb ($1,852-1,962/tonne, €1,500-1,589/tonne) from the previous 88-92 cents/lb, US buyers said.
The butac contract price fell to 79-83 cents/lb from the previous 83-87 cents/lb, and spot free-on-board (FOB) values dropped to 74-78 cents/lb, from the previous 78-82 cents/lb.
Spot chemical-grade propylene (CGP) declined 4 cents/lb on the low end in the past week, falling to 43.50-47.00 cents/lb from 47.50 cents/lb previously. Since early April, spot CGP has plunged 41% while butac prices have dropped about 18%. Butac is sold mainly through distributors in the US and is used in automotive paint.
Major US butac producers include Dow Chemical, Eastman and Oxea.
($1 = €0.81)
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