Intermediates news in brief

08 November 2010 00:00  [Source: ICB]

EU SEPT PTA CONTRACTS INCREASE WITH PX
European September purified terephthalic acid (PTA) contract prices moved up by €44/tonne ($60/tonne) in line with movements in upstream paraxylene (PX) as of October 28. September PTA prices were ­reported at around €730/tonne FD (free delivered) NWE (Northwest Europe).

JILIN CUTS CHINA N-BUTANOL CNY200
Chinese oxo-alcohols major Jilin Petrochemical has cut n-butanol (NBA) domestic prices by yuan (CNY) 200/tonne ($30/tonne), effective October 28. The new prices are CNY12,800-13,100/tonne ex-tank excluding taxes, which is a fall of around 1.5% from previous levels.

EU OCT CAPRO ROLLS OVER ON TIGHT SUPPLY
European October caprolactam (capro) settled at a rollover, despite a significant fall in feedstock ­benzene, because of ongoing tight global supply and strong ­demand. The pre-discounted contract price settled at €2,200-2,256/tonne ($3,036-3,113/tonne) FD (free delivered) NWE (Northwest Europe).

US NOVEMBER EG LIKELY TO RISE
A proposed 5 cent/lb increase in US ethylene glycol (EG) prices for November is likely to succeed amid tight supply, a reseller said. The November EG price of 52 cents/lb ($1,146/tonne, €825/tonne) would be five cents higher than the 47 cent/lb October benchmark.

US OCTOBER IPA UP
US isopropanol (IPA) contracts struggled to a 3 cents/lb ($66/tonne, €48/tonne) gain in October, putting contracts in the range of 74-77 cents/lb. Unsuccessful September price initiatives of 3 cents/lb withered owing to ample ­supply and ­softer demand.


By: Clay Boswell
+1 713 525 2653



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