26 March 2010 23:59 [Source: ICIS news]
LONDON (ICIS news)--Prices for butyl acetate (butac) jumped up €30-40/tonne (€40-53/tonne) in Europe, buyers and sellers confirmed on Friday.
Price increases were posted in March due to higher propylene and butanol costs, but it was the increasingly curtailed supplies that gave more impetus to get higher prices.
“We could produce more, but can’t get enough butanol,” one manufacturer said.
“We are now on allocation to our contracts customers and it is discussed on a case by case basis,” another producer said.
Propylene settled for April at €980/tonne FD (free delivered) NWE (northwest ?xml:namespace>
Spot prices for butac were assessed around €960-1,000/tonne FD NWE up to and including Friday, according to data from global chemical market intelligence service ICIS pricing.
Offers from some sellers were now at a minimum of €1,000/tonne FD NWE.
Buyers said that so far the required volumes were located, however one said; “we know some suppliers are playing a fine balancing act.”
($1 = €0.75)
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