16 April 2013 19:29 [Source: ICIS news]
The popular butac distributor range fell to 89-92 cents/lb from the previous 93-96 cents/lb, sources said.
Feedstock prices continue to have much more of an impact on butac than demand, which remains weak.
Butac producers sought price increases for early March, but drops in chemical-grade propylene (CGP) values had erased the hikes by the middle of the month.
CGP spot prices have dropped by 24% since hitting a peak for the year of 75 cents/lb in early February. In the latest assessment, the CGP spot price averaged 56.88 cents/lb.
Butac spot prices in the past week tightened somewhat higher in the range, to 83-85 cents lb - rising off a previous low end of 81 cents/lb - in response to spot material appearing on the market, a distributor said.
Contract prices remained unchanged, pending settlement of the April contract. Butac contract prices usually settle in the second half of the month.
Major US butac producers include Dow Chemical, Eastman Chemical and Oxea Group.
($1 = €0.77)
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