China 2-EH prices set to rise CNY100-200/tonne

04 February 2008 10:19  [Source: ICIS news]

SHANGHAI (ICIS news)--East China 2-ethylhexanol (2-EH) prices are expected to rise by yuan (CNY) 100-200/tonne ($13.9-27.8/tonne) to CNY14,900-15,000/tonne ex-tank after the end of the Chinese New Year next week, due to tight supply, market players said on Monday.

 

The supply situation has been caused by wintry weather conditions that have hampered 2-EH delivery, coupled with the November outage at BASF-YPC’s 250,000 tonne/year unit in Nanjing, Jiangsu province.

 

In the second half of January, 2-EH prices in Europe/America rose on tight supply, prompting Asia suppliers to sell cargoes to these higher priced regions, further squeezing supply domestically.

 

Offers for February-March shipments were at $1,680-1,700/tonne CFR (cost and freight) CMP (China Main Port) on a LC (letter of credit) 90-day basis, while traded prices were around $1,670/tonne, up $10/tonne from the end of January, according to global chemical intelligence service ICIS pricing.

 

Offers were likely to stay high after the one-week holiday and domestic 2-EH prices were set to increase in tandem, traders said.

 

BASF-YPC is a joint venture of BASF and Yangzi Petrochemical.

 

($1=CNY7.18)

 

By: Tina Liu
+65 6780 4359

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