Celanese cuts June etac, butac prices in Asia by $90/tonne

08 June 2012 04:14  [Source: ICIS news]

MELBOURNE (ICIS)--US-based acetyls producer Celanese has decreased its ethyl acetate (etac) and butyl acetate (butac) prices for June by $90/tonne, regional buyers said on Friday.

The company has reduced its benchmark Singapore ex-tank price of etac to $1,020/tonne (€806/tonne) ex-tank this month, the buyers said. This is a $90/tonne, or 8.1%, reduction from its May pricing of $1,110/tonne ex-tank.

Its Singapore ex-tank price for butac is at $1,330/tonne ex-tank for June, down by $90/tonne from May, the buyers added.

Celanese’s plant in Singapore has a combined etac/butac capacity of 100,000 tonnes/year.

“[Celanese’s June prices] are more realistic,” said a regional buyer.

“Their prices [for etac and butac] were very high in the past two months, compared to the prices of cargoes from China.”

The depreciation of several southeast Asian currencies, including the Malaysian ringgit and the Indonesian rupiah, versus the US dollar in recent weeks, has also weakened demand for US dollar-denominated petrochemical imports, said a regional supplier.

Selling indications for China-origin etac declined to $990-1,000/tonne CFR (cost & freight) SE (southeast) Asia this week, in line with the recent losses in upstream acetic acid prices and domestic etac prices in China.

Butac of China origin is available at about $1,300/tonne CFR SE Asia for June shipment, according to market participants.

Etac, which is mainly produced by the esterification of ethanol with acetic acid, is used in coating formulations like epoxies and vinyls, and 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 = €0.79)

By: Trisha Huang

AddThis Social Bookmark Button

For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.

Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.

Printer Friendly

Get access to breaking chemical news as it happens.
ICIS Global Petrochemical Index (IPEX)
ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index