04 December 2012 20:59 [Source: ICIS news]
HOUSTON (ICIS)--US butyl acetate (butac) prices edged up 3 cents/lb ($66/tonne, €51/tonne) across the board this week on rising raw materials and a producer nomination for 1 December, sources said on Tuesday.
Butac distributor prices, the most popular range, rose to 86-89 cents/lb from 83-86 cents/lb, sources said.
Spot free-on-board (FOB) prices also rose to 76-80 cents/lb from the previous 73-77 cents/lb. December contract prices increased to 81-84 cents/lb from the previous 77-81 cents/lb.
Eastman Chemical’s proposed hike of 3 cents/lb for 1 December appeared to have been accepted. “It was widely expected to go through,” a seller said.
A leading ingredient in automotive paint, butac demand has generally been flat for most of the year, driven largely by raw material costs.
Sources attributed the hike primarily to the rise in spot chemical-grade propylene (CGP), which moved up to 52.50-53.125 cents/lb compared with 52.00-52.375 cents/lb a week earlier.
Major US butac producers include Dow Chemical, Eastman Chemical and Oxea.
($1 = €0.77)
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