04 April 2013 18:39 [Source: ICIS news]
HOUSTON (ICIS)--Second-quarter US fatty alcohol contracts settled lower, as negotiations were completed between late March and early April, buyers and sellers said on Thursday.
Mid-cut detergent alcohol blends in the C12-14, C12-15 and C12-16 cuts were assessed at 83-95 cents/lb ($1,830-2,094/tonne, €1,427-1,633/tonne) delivered, down 4-5 cents/lb from the previous assessment.
Blended C16-18 heavy chain alcohols were assessed for the second quarter at 81-93 cents/lb on the same basis and also down 4-5 cents/lb from the previous assessment.
Buyers and sellers said the price correction precipitated in the US market from the falling feedstock prices in Asia is largely completed and view the market as stabilising.
"We see the market stabilising, but staying fairly flat during 2013,” one alcohol buyer said.
Downward price direction has dominated the US fatty alcohol market for about 4-6 quarters, mostly driven by rapidly moderating feedstock costs and weak economics in the US and other global regions.
($1 = €0.78)
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