14 August 2012 17:29 [Source: ICIS news]
Butac distributor prices, the most popular range, fell to 82-85 cents/lb ($1,808-1,874/tonne, €1,464-1,518/tonne) from the previous 84-89 cents/lb, US buyers said.
Meanwhile, the butac contract price fell to 77-81 cents/lb from the previous 79-83 cents/lb, and spot free-on-board (FOB) values dropped to 72-76 cents/lb, from the previous 74-78 cents/lb.
Spot chemical-grade propylene (CGP) slipped on the high end in the past week, falling to a range of 45.25-46.25 cents/lb from 45.25-47.7 cents/lb previously. Since early April, spot CGP has plunged 41% while butac prices have dropped 21%.
Butac is sold mainly through distributors in the US and is used in flavouring, as a fragrance and also in automotive paint.
Major US butac producers include Dow Chemical, Eastman and Oxea.
($1 = €0.81)
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