05 February 2009 08:41 [Source: ICIS news]
SINGAPORE (ICIS news)--Qilu Petrochemicals, Jilin Petrochemical and Daqing Petrochemical, China’s largest oxo-alcohols producers have announced a price hike for its normal butanol (NBA) domestic prices by 4.5-4.8% due to rising feedstock propylene values and tight domestic supply, traders and producers said on Thursday .
Effective 4 February, the oxo-alcohols majors raised NBA prices by yuan (CNY) 300/tonne (US$44), bringing state-owned Qilu’s Petrochemicals prices to around CNY6,600-6,850/tonne ex-tank excluding taxes.
Meanwhile, Jilin Petrochemical and Daqing Petrochemical’s prices rose to CNY6,200-6,500/tonne ex-tank excluding taxes respectively, market sources said.
Following the announcement, several regional exporters withdrew their offers anticipating higher prices for imports.
"We are currently watching the market situation. There are no offers," a regional seller said.
($1 = CNY6.83)
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|
Asian Chemical Connections