04 December 2009 20:41 [Source: ICIS news]
HOUSTON (ICIS news)--Oxo-alcohol prices in Latin America were rising amid higher feedstock propylene costs and increased demand in Asia, sources said on Friday.
Oxo-alcohol 2-ethylhexanol (2-EH), increased by about $50/tonne (€33/tonne) for December and was at $1,100-1,250/tonne CFR (cost and freight) Latin American port, according to data from global chemical market intelligence service ICIS pricing.
According to sources, n-butanol (NBA) and isobutanol (IBA) values were also trading slightly higher and were hovering around $1,100-1,200/tonne CFR.
Many market players expected prices to continue rising.
US propylene producers nominated increases of 6-7 cents/lb for December, pushing for a 13% hike on the price of the monomer and the second increase in as many months, market sources said.
The proposed increases for December came amid steady demand and higher refinery-grade propylene (RGP) prices in the last three weeks.
A large proportion of oxo-alcohols are used by the paints and coatings industry, though other uses include inks, cleaning products, plasticisers, brake fluids, pharmaceuticals, cosmetic and personal care products.
Major producers of oxo-alcohols include Dow Chemical, BASF, Eastman, Sasol and Oxea.
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