30 March 2012 03:01 [Source: ICIS news]
MELBOURNE (ICIS)--Korea Alcohol Industrial will reduce its domestic ethyl acetate (etac) price from 1 April to increase its pricing competitiveness against cheaper imports from ?xml:namespace>
The producer will reduce its April domestic pricing by won (W) 30/kg ($265/tonne) to W1,310/kg ex-works, the official said.
Korea Alcohol Industrial is
The producer increased its March price by W30/kg from February to W1,340/kg ex-works.
However, the price hike reduced its competitiveness versus imports from
Prices of Chinese etac were at around $990-1,005/tonne CFR South Korea, according to ICIS assessment.
South Korean etac demand in 2011 was estimated by market sources at about 90,000-100,000 tonnes. Most of the 69,000 tonnes of etac imported in 2011 came from
($1 = W1,135.25)
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