02 August 2011 03:53 [Source: ICIS news]
SINGAPORE (ICIS)--China oxo-alcohols producer Shandong Lihuayi has raised its 2-ethylhexanol (2-EH) domestic prices by yuan (CNY) 150/tonne (US$23/tonne) because of tight supply and escalating production costs amid firmer feedstock propylene values, market sources said on Tuesday.
The price increase will bring the new 2-EH list price, which takes effect on 2 August, to CNY14,350-14,450/tonne ex-tank, excluding taxes.
Shandong Lihuayi's announcement came as no surprise to other market players.
Supply has been tight since the supplier shut its 250,000 tonne/year unit at Shandong province on 18 July for a scheduled turnaround.
Production at the facility was heard to have been resumed on 29 July.
($1 = CNY6.43)
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