Butyl glycol prices in China fall by $20/tonne on poor demand
22 June 2011 12:08 [Source: ICIS news]
SINGAPORE (ICIS)--Butyl glycol prices in ?xml:namespace>China fell by $20/tonne (€14/tonne) to $1,910-1,960/tonne on 22 June after sellers were forced to lower their indications because of weak demand amid the credit tightening measures imposed by the government, market sources said on Wednesday.
Butyl glycol prices on a CFR (cost & freight) basis for the week ended 22 June reflect a continuing decline in demand in China.
Prices have also fallen in southeast Asia to $1,920-1,960/tonne CFR southeast (SE) Asia because of poor demand and the recent decline in upstream butanol prices, market sources added.
Butanol prices were assessed at $1,570-1,590/tonne CFR northeast (NE) Asia on 17 June.
Demand is especially weak in China because of the monetary tightening measures introduced by the government to curb inflation, sources said.
Inventory of butyl glycol from Chinese distributors were heard to be low, but this failed to increase demand, the sources said.
($1 = €0.69)
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