Mitsui Phenol Singapore raises January phenol price by $120/tonne

04 January 2013 13:10  [Source: ICIS news]

MELBOURNE (ICIS)--Mitsui Phenol Singapore, a unit of Japan’s Mitsui Chemicals, has increased its January price for phenol to $1,770/tonne ex-tank Malaysia, an increase of $120/tonne from December, a company source said on Friday.

The price increase was necessitated by the hefty gains in feedstock benzene costs, the source added.

Its December phenol price was $1,650/tonne (€1,271/tonne) ex-tank Malaysia. The company announces its phenol ex-tank price on a monthly basis.

Because of higher production costs, Mitsui Phenol Singapore increased its first-half January acetone price to $1,160/tonne ex-tank Singapore, from $1,130/tonne ex-tank Singapore in the second half of December. The company announces its acetone ex-tank price twice a month

Operating rates at Mitsui Phenol Singapore’s phenol/acetone plant at Jurong Island in Singapore, which can produce 300,000 tonnes/year of phenol and 180,000 tonnes/year of acetone, will be further reduced to 60% capacity in January, from 80% capacity in December, the company source added.

($1 = €0.77)

By: Trisha Huang

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