HOUSTON (ICIS)--US August cumene contracts moved up on Friday, tracking increasing feedstock costs.
August contracts were assessed up 3 cents/lb ($66/tonne) at 31-32 cents/lb on an FOB (free on board) basis.
Both feeds moved up in August, although the late-month increase in RGP is likely to be felt for cumene producers in September as well.
Supply of cumene is also balanced to healthy, with sources saying there is no supply overhang, but that rates could ramp up if needed.
Major US cumene producers include CITGO, Flint Hills Resources, INEOS Phenol, Marathon, Philadelphia Energy Solutions and Shell Chemical.