25 June 2013 22:54 [Source: ICIS news]
HOUSTON (ICIS)--The US phenol contract range for June fell slightly on a drop in the June benzene contract, sources confirmed on Tuesday.
June phenol contracts slipped by 0.68 cent/lb ($15/tonne, €11/tonne) to 84.87-89.32 cents/lb, as assessed by ICIS.
The drop correlated with the 5 cent/lb drop in the June benzene contract from May, which took prices to $4.42/gal on ample supply and then-weakness in the spot market.
Spot phenol values remained notionally static, as US producers are staying largely out of the export market, except for some smaller volumes to Latin America.
Market players continue to hope for an uptick in demand from the key markets of housing and durable goods.
Major US phenol producers include Axiall, Dow Chemical, Haverhill Chemical, Honeywell, INEOS Phenol and Shell Chemical.
($1 = €0.76)
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