11 September 2013 21:10 [Source: ICIS news]
HOUSTON (ICIS)--A distributor of US butyl acetate (butac) said on Wednesday that price nominations for September are likely to go through, despite pushback from buyers.
“Everybody’s complaining about it, but, they’re still buying it, I’ll put it that way,” the source said. “There’s no backing off of it, from what I’ve seen.”
Oxea, Dow and Eastman each announced in August 3 cent/lb ($66/tonne, €50/tonne) price increase nominations for butac for September. The announcements cited higher prices in feedstock propylene. August propylene contract prices settled at a 5 cent/lb increase.
There has been sentiment in the market this summer that butac has seen increasing demand. Mainly used in the paints and coatings industry, butac demand saw a slow start to 2013 because of the delayed start to the housing construction season. Things have picked up since, and several sources have told ICIS that butac demand has been robust through the summer.
“We’re still seeing butyl acetate sell,” the source said on Wednesday. “We’ve got a normal month of volume moving at the higher prices.”
Butyl acetate contract prices rolled over for August at a range of 84-87 cents/lb. Contract prices remained at a range of 82-85 cents/lb.
($1 = €0.75)
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|
Asian Chemical Connections