China’s Oct ethyl acetate exports to remain low on high prices

30 October 2009 03:54  [Source: ICIS news]

SINGAPORE (ICIS news)--Ethyl acetate exports from China were expected to remain low due to a jump in prices to near four-month highs at $760-780/tonne (€509-523/tonne), local producers and traders said on Friday.

China exported 25,711 tonnes of ethyl acetate in September, representing a decline of 14.20% from the 29,967 tonnes exported a month earlier, according to data from China Customs.

“The October export volume may remain low as prices of Chinese cargoes surged in September due to high ethanol feedstock costs,” a Shanghai-based trader said in Mandarin.

October offers for China-origin ethyl acetate cargoes had earlier jumped $60/tonne to a almost four-month-high of $760-780/tonne FOB (free on board) China, fuelled by high feedstock ethanol values, according to global chemical market intelligence service ICIS pricing.

Domestic ethanol prices in eastern China remained on an upward trend due to limited supply, rising yuan (CNY) 50-100/tonne ($7.32-14.64/tonne) to CNY5,200-5,250/tonne DEL (delivered) and also gained CNY300-350/tonne to CNY5,500-5,550/tonne DEL in southern China during the week, traders said.

The September ethyl acetate export volume, nevertheless, represented a 21.30% increase from the 21,196 tonnes exported in the same month a year ago, the data showed.

($1 = €0.67 / $1 = CNY6.83)

For more on ethyl acetate visit ICIS chemical intelligence
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By: Helen Lee
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