07 August 2009 16:20 [Source: ICIS news]
LONDON (ICIS news )--European n-butanol (NBA) spot prices have risen €20/tonne ($29/tonne) on the back of tighter supply due to an ongoing force majeure of a northwest European supplier, market sources said on Friday.
Swedish producer Perstorp Oxo said its oxo-alcohol and plasticiser facility in Stenungsund is back operating at full rates but its force majeure declaration remains in place.
Perstorp Oxo declared force majeure for several products including butanol, on 17 July.
Other European NBA producers have seen demand rise rapidly since this announcement, allowing them to sell spot volumes at higher prices, sources said.
Producers primarily reported spot numbers around the mid-€800s/tonne FD (free delivered) NWE (northwest ?xml:namespace>
Traders confirmed NBA spot prices had risen, with one giving indications around €840-860/tonne FD this week.
NBA spot prices were assessed up €20/tonne at €830-860/tonne FD NWE, by global chemical market intelligence service ICIS pricing.
Last week, NBA spot prices also climbed €20/tonne for similar reasons.
($1 = €0.70)
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