Price and market trends: US November phenol contract falls on upstream pressure

06 December 2013 09:53 Source:ICIS Chemical Business

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.

By Larry Terry