US phenol contract falls on feedstocks
The US phenol contract range settled sharply lower for November, sources said on 25 November, in line with the November benzene contract.
The 3.67 cent/lb drop took phenol to a new contract range of 77.51-81.96 cents/lb ($1,709-1,807/tonne, €1,265-1,337/tonne), as assessed by ICIS.
The decrease is linked to the November benzene contract, which recently fell by 27 cents/gal to $4.10/gal. The October phenol contract settled marginally lower on a less-precipitous October benzene drop of 3 cents/gal.
Anaemic market continued to hold production rates in a range of 65-70%, sources said. There are limited export opportunities, and derivative markets continue to be soft, sources said.