Celanese increases etac, butac prices in Asia by $130/tonne

02 April 2012 04:56  [Source: ICIS news]

MELBOURNE (ICIS)--US-based acetyls producer Celanese has increased its price for ethyl acetate (etac) and butyl acetate (butac) by $130/tonne (€97.50/tonne) each effective 1 April, with regional importers saying on Monday the hike was very high.

The company will increase “list and off-list selling prices” for etac and butac in “Asia outside China”, or “as contracts allow”, Celanese said in an announcement posted on its website on 29 March.

The producer operates a 60,000 tonne/year etac, as well as 40,000 tonne/year butac plant in Singapore.

The proposed April price increases represent approximately 10% of Celanese’s March ex-tank prices in Singapore, a regional benchmark.

“[The announced price increase] is too much for us,” a southeast Asian importer said on Monday.

“Absolutely, [the announced price increase] will turn importers to purchase [lower-priced] product from China,” he said.

Etac offers from China were stable-to-firm at about $970-975/tonne FOB China for the week ended 30 March. Chinese butac makers’ asking prices were at $1,260-1,300/tonne FOB China for the same week.  

Etac, which is mainly produced by the esterification of ethanol with acetic acid, is used in coating formulations like epoxies and vinyls, and is also used in solvent applications for inks and food.

Butac, which is derived from acetic acid and n-butanol (NBA), is mainly used in the manufacturing of paints and coatings for the furniture, construction and automotive sectors.

($1 = €0.75)

By: Trisha Huang

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