Americas top stories: weekly summary

HOUSTON (ICIS)–Here are the top stories from ICIS News from the week ended 30 June 2017:

US phenol sellers could spark pressure from Asia acetone sellers
Continued high volumes of phenol exports from the US into Asia could spark Asian sellers to increase exports of co-product acetone into the US.

MOVES: Cella to retire as CEO of CP Chem
Peter Cella will retire as the CEO of Chevron Phillips Chemical, effective 1 August, the US-based olefins and polyolefins producer said on Tuesday.

US June epoxy resin contracts roll over on steady spot pricing
US June epoxy resin contracts were settled at a rollover on Tuesday, with buyers pushing for declines on weaker feedstock costs but producers holding to flat pricing on less pressure from imports.

Formosa declares force majeure on US PE, PP after Texas outage
Formosa Plastics has declared force majeure for all polyethylene (PE) and polypropylene(PP) products, following a power outage that occurred earlier in the week at its Point Comfort site in Texas, the company said in a letter obtained on Wednesday.

US BD contracts plunge further in July on ample supply, global drop
US July butadiene (BD) contracts settled on Thursday at a fourth consecutive month of hefty decreases, leaving market participants wondering if a bottom is near.

US July benzene contracts settle lower
US July benzene contracts settled at a single level of $2.51/gal DDP on Friday, according to market sources. The July contract was down 19-20 cents/gal from June.