US buyers dismiss NBA, IBA price hike nominations

04 March 2009 20:22  [Source: ICIS news]

HOUSTON (ICIS news)--US buyers were sceptical that global price-increase proposals for n-butanol (NBA) and isobutanol (IBA) would be realised, a market participant said on Wednesday.

"It is a cynical attempt to try and relieve downward price pressure," the buyer said.

Oxea announced on 4 March it was increasing prices on six products - including NBA and IBA - by 5 cents/lb ($110/tonne or €87/tonne), effective on 1 April.

In a letter to customers dated 27 February, Dow Chemical said it was increasing prices on 55 products in its oxygenated solvents portfolio - including NBA, IBA, butyl acetate (butac) and glycol ethers - by 4-5 cents/lb effective on 1 April.

US NBA contract prices for February were assessed at $1,874-1,984/tonne according to data from global chemical market intelligence service ICIS pricing.

Major US producers of oxo-alcohols include Dow Chemical, BASF, Eastman, Sasol and Oxea.

($1 = €0.79)

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By: Leela Landress
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