Celanese cuts Asia June etac price by a further $40/tonne

14 June 2012 07:01  [Source: ICIS news]

MELBOURNE (ICIS)--US-based acetyls producer Celanese has reduced its ethyl acetate (etac) price in Asia by a further $40/tonne (€32/tonne) for June, regional buyers said on Thursday.

The company has reduced its benchmark Singapore price for etac to $980/tonne ex-tank in a second price adjustment this month. The producer in early June implemented a $90/tonne etac price reduction to $1,020/tonne ex-tank.

Celanese’s plant in Singapore has a combined etac/butac capacity of 100,000 tonnes/year. Its May etac price was at $1,110/tonne ex-tank.

“The market has fallen further, and this is a more realistic price level,” said a regional buyer.

Selling indications for China-origin etac declined to $980-990/tonne CFR (cost & freight) SE (southeast) Asia this week, in line with recent losses in upstream acetic acid prices and lower domestic etac prices in China.

Celanese’s butac price is at $1,330/tonne ex-tank for June, which was a $90/tonne reduction from May.

“Celanese may adjust down the butac price again, because product from China is easily available at $1,290-1,300/tonne CFR SE Asia,” the buyer said.

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 = €0.80)

By: Trisha Huang

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