Oxea proposes another 3-cent butac price increase

15 May 2008 20:00  [Source: ICIS news]

HOUSTON (ICIS news)--Oxea has proposed another 3-cent/price increase for US butyl acetate, with a distributor saying on Thursday the latest hike could have trouble gaining acceptance.

"This one will be difficult, too," the distributor said of the increase, adding that supplies are plentiful.

Oxea said in a statement that the proposed $66/tonne (€42/tonne) rate hike would take effect 1 June globally except in Europe.

A distributor said Dow Chemical had also proposed a similar increase, though there was no verification of the proposal by the company.

Oxea, Dow and Eastman Chemical had announced butac hikes scheduled to take effect on 1 May.

Oxea had also proposed a similar increase for 1 April.

US butac prices were assessed at 78-83 cents/lb for the week ended 9 May, according to global chemical market intelligence service ICIS pricing.

($1 = €0.65)

For more on butyl acetate visit ICIS chemical intelligence
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By: Lane Kelley
+1 713 525 2653

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