18 May 2010 21:32 [Source: ICIS news]
HOUSTON (ICIS news)--Oxea's oxo-alcohols unit at its Bay City plant in Texas should restart on 22 May after a month-long maintenance turnaround, a market source said on Tuesday.
Regulators required the shutdown that began in late April for propylene pipeline hydro-testing and other reliability checks.
An Oxea official would not comment on the turnaround.
Butyl acetate (butac) and other propylene derivatives have gained price hikes of more than 20% this year due to propylene's big runup that ended in early April and tight supply from planned shutdowns.
The Oxea shutdown covered all oxo-alcohols products, including butyl acetate (butac), butanol, butyraldehyde and propanol, involving a capacity loss of 30,000 tonnes.
A buyer had heard the plant was supposed to be restarted on Monday but would not be fully operational until later in the week.
The butac distributor price range for the week ended 18 May was 91-96 cents/lb ($2,006-2,116/tonne or €1,625-1,714/tonne), according to global chemical intelligence service ICIS pricing. Contract prices were 85-90 cents/lb and spot free on board (FOB) rates were 80-84 cents/lb.
($1 = €0.81)
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