China NBA producers cut prices on weak downstream demand

29 June 2012 10:21  [Source: ICIS news]

SINGAPORE (ICIS)--Producers in China cut domestic prices of n-butanol (NBA) by yuan (CNY) 100-200/tonne ($16-31/tonne) as a result of weak demand from the downstream markets, sources said on Friday.

Qilu Petrochemical cut pre-tax domestic prices of NBA by CNY200/tonne to CNY9000-9100/tonne ex-tank on 28 June, sources said.

Lihuayi Petrochemical cut pre-tax domestic NBA prices on 28 June by CNY100/tonne to CNY9000-9200/tonne ex-tank, they said.

Similarly, Jilin Petrochemical and Daqing Petrochemical both cut pre-tax domestic NBA prices by CNY100/tonne to CNY8800-9000 ex-tank.

However, despite a decrease in NBA prices buying interest will remain weak in the downstream butyl acrylate (BA) and butyl acetate (BAC) sectors as a result of overall weak economic conditions and seasonal low, regional traders said.

($1 = CNY6.36)

By: Su Yeen Cheong
+65 6780 4359

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