19 July 2011 18:04 [Source: ICIS news]
The popular butac distributor price dropped by 8.5 cents/lb ($187/tonne, €133/tonne) in the past week to 98-102 cents/lb.
In the past four weeks, the butac distributor price has fallen by 11.5 cents/lb.
A buyer said butac was following the drop in feedstock US propylene, which has plunged in recent weeks because of current and anticipated supply gains, including the restart of a plant in Texas.
July propylene contracts settled down by 4 cents/lb last week. Spot chemical-grade propylene (CGP) has dropped by more than 10 cents/lb since late May.
The plunge in propylene also has pulled down butac feedstock n-butanol (NBA), which has slipped by 3 cents/lb in July.
Major US producers of butyl acetate include Oxea, Dow Chemical and Eastman Chemical.
($1 = €0.71)
For more on butyl acetate, visit ICIS chemical intelligence
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