03 May 2013 09:58 [Source: ICIS news]
MELBOURNE (ICIS)--Korea Alcohol Industrial increased its domestic ethyl acetate (etac) price in May, its first price increase since October 2012, in a bid to recoup margins, market sources said on Friday.
The South Korean producer’s May etac price will be at won (W) 1,130/kg ($1.03/kg) EXW (ex-works), up by W50/kg from April, the sources said.
Korea Alcohol’s April etac price of W1,080/kg EXW was at a rollover from March and February.
The producer reduced its price four times between November 2012 and February 2013 to boost its competitiveness against etac imports.
Korea Alcohol, which operates an 85,000 tonne/year etac/butyl acetate (butac) swing plant in Ulsan, is South Korea’s sole producer of etac and butac.
($1 = W 1,102.40)
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