28 May 2009 12:01 [Source: ICIS news]
By Helen Lee
SINGAPORE (ICIS news)--Ethyl acetate exports from China rose 24% year-on-year in April as poor demand from the derivative wood and furniture sectors in southern parts of the country fuelled overseas sales, traders and producers said on Thursday.
“The ethyl acetate market in southern
The recent capacity expansion at a key southern China-based producer’s plant in August last year contributed to the export growth while the export share of eastern China-based producers remained largely stable, he added.
April’s ethyl acetate export volume also represented an increase of around 31% from the 15,445 tonnes sold overseas in March, boosted by buyers returning to replenish inventories and buoyant demand from South
Buying enquiries from
Chinese suppliers reportedly sold a 1,000 tonne cargo of ethyl acetate to Indian buyers at $720/tonne (€518/tonne) FOB (free on board)
Prices of raw material ethanol had also risen in
“Crops had been dying earlier on, leading to a shortage of ethanol to produce ethyl acetate,” a local trader said, adding that Indian players had been approaching Chinese suppliers for cargoes.
Prices of ethanol had been increasing in
Harvesting of crops in
Industry sources said Indian buyers continued to seek Chinese cargoes after having snapped up two 1,000-2,000 tonne cargoes in late March.
Ethyl acetate is used in the manufacture of paints, wood stains and varnishes and as a solvent in the printing industry. Ethyl acetate is also used as a solvent for varnishes, lacquers, dry cleaning, stains, fats and nitrocellulose. Other applications include solvent in nail polish, nail polish remover, base coats and other manicuring products.
($1 = €0.72)
Desmond Chia contributed to this story
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