China’s Qilu Petchem cuts oxos further by CNY200-400/t

31 May 2010 10:01  [Source: ICIS news]

SINGAPORE (ICIS news)--China’s state-run Qilu Petrochemical has further cut its 2-ethyl hexanol (2-EH) and normal butanol (NBA) domestic prices by 1.3 - 3%, due to falling feedstock propylene and prevailing waning demand from the downstream plasticizer and acrylates segments, traders and producers said on Monday.

Effective 28 May, the oxo-alcohols producer has slashed its 2-EH and NBA prices by yuan (CNY) 200/tonne (US$29/tonne) and 400/tonne (US$59/tonne), bringing prices to around CNY14,600-14,930/tonne and CNY12,600-12,930 ex-tank, respectively, excluding taxes, industry sources said.

Previously on the 26 May, the producer had reduced its NBA and 2-EH prices by CNY400/tonne and CNY600/tonne respectively. However, the move was deemed as “insufficient” to draw buyers forward, traders said.

($1 = CNY6.83)

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By: Su Yeen Cheong
+65 6780 4359

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