26 July 2013 18:15 [Source: ICIS news]
HOUSTON (ICIS)--The US phenol contract range for July fell sharply on lower benzene, sources confirmed on Friday.
July phenol dropped by 4.76 cents/lb ($105/tonne, €79/tonne) from June, taking the new range to 80.11-84.56 cents/lb, as assessed by ICIS.
Prices fell in line with July benzene, which dropped early in the month to $4.07/gal for July, down by 35 cents/gal from June.
Phenol demand remains weak, especially from the downstream bisphenol-A (BPA) and polycarbonate (PC) market segments. Buying interest in the phenolic resins market still appears to be down during what is typically a stronger season despite mixed but mostly positive news from the US housing market.
Nor has there been appreciable hurricane-inventory build so far, a source indicated, adding that phenol production rates continue to be heard averaging 65-70%.
Major US phenol producers include Axiall, Dow Chemical, Haverhill Chemical, Honeywell, INEOS Phenol and Shell Chemical.
($1 = €0.75)
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