24 March 2013 21:21 [Source: ICIS news]
“If you’re lucky, you’re making back your benzene costs,” the trader said. “Otherwise you’re moving material at a loss.”
Sources said phenol spot deals into India are being done in the $1,450-1,460/tonne (€1,117-1,124/tonne) on a CFR (cost & freight) basis.
Those price levels track back to a $1,360-1,370/tonne level on an FOB (free on board) USG (US Gulf) basis.
With spot phenol at that level, it is being traded at 2-3 cents/lb below US benzene contract prices.
Hosted by the American Fuel & Petrochemical Manufacturers, the IPC continues through Tuesday.
($1 = €0.77)
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