HOUSTON (ICIS)--US November cumene contracts were assessed at a rollover on Thursday, tracking mixed feedstock costs.
The rollover keeps contracts at 40-41 cents/lb ($882-904/tonne) on an FOB (free on board) basis.
Upstream November benzene rose by around 1.5 cents/lb, but refinery-grade propylene (RPG) values fell by around 2.0-3.0 cents/lb.
Cumene supply improved to a balanced position in November, sources said, as several logistics issues were resolved.
Demand for domestic markets remains strong, largely on healthy margins for acetone into methyl methacrylate (MMA) production.
Domestic phenol demand for cumene is also steady at slightly higher year-on-year levels, and margins are adequate but starting to thin.
However, phenol export demand fell in November, as the arbitrage window into Asia was closed.
Major US cumene producers include CITGO, Flint Hills Resources, INEOS Phenol, Marathon, Philadelphia Energy Solutions and Shell Chemical.