Japanese etac makers to increase domestic prices on naphtha costs

21 March 2012 06:47  [Source: ICIS news]

MELBOURNE (ICIS)--Japanese ethyl acetate (etac) producers have announced domestic price increases by yen (Y)14-25/kg ($167-298/tonne) from 1 April because of the higher naphtha costs in Japan in the first quarter of 2012.

Daicel Chemical Industries will raise its price by Y25/kg, a company source said on Wednesday. The company operates a 75,000 tonne/year etac plant at Otake in Hiroshima prefecture.

Showa Denko and Kyowa Hakko, which jointly operate a 100,000 tonne/year etac plant in Oita prefecture under the joint-venture company name Japan Ethyl Acetate Co., have also announced price increases from 1 April.

Kyowa Hakko will increase its etac price by Y24/kg, a company official said on Wednesday.

Showa Denko will increase its etac price by Y14/kg, said a company source.

All of the announced price increases will apply for the April-June quarter, according to the respective company officials.

Japan's etac buyers could not be immeidately reached for comment on the proposed price increases.

In addition to the Oita facility, Showa Denko operates a 50,000 tonne/yr etac plant at Merak in Indonesia.

Japan, which consumes about 250,000 tonnes/year of etac, is a net importer of the solvent acetate. Most of the country’s etac imports are supplied by China.

($1 = Y83.72)

By: Trisha Huang

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