Korea Alcohol to roll over August domestic etac price into Sept

31 August 2012 08:10  [Source: ICIS news]

MELBOURNE (ICIS)--Korea Alcohol Industrial’s domestic ethyl acetate (etac) pricing for September will be at a rollover from August, a company official said on Friday.

The South Korean producer’s September etac price will be at won (W)1,180/kg ($1.04/kg) ex-works (EXW), unchanged from August, the official said.

The company on 1 August announced a W80/kg reduction for its August pricing to W1,180/kg EXW, from W1,260/kg EXW in July.

Several South Korean importers said at the time that the company decreased its price to boost its competitiveness over imports from China, because the importers would have to match the domestic producer’s reduced price to ensure smooth sales.

Korea Alcohol’s July pricing was itself a W80/kg reduction from June.

Korea Alcohol is South Korea’s sole producer of etac/butyl acetate (butac). It operates an 85,000 tonne/year etac/butac swing plant in Ulsan.

South Korean etac demand in 2011 was estimated by market sources at 90,000-100,000 tonnes. Most of the 69,000 tonnes of etac imported in 2011 came from China.

($1 = W1,133)

By: Trisha Huang

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