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.
“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
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)
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