20 September 2013 17:46 [Source: ICIS news]
LONDON (ICIS)--September prices for European butyl acetate (butac) were assessed up €20-30/tonne ($27-41/tonne) by ICIS on Friday, due to higher feedstock costs.
Butac producers targeted price hikes following the settlement of the upstream September propylene contract price at an increase of €60/tonne from August, in order to protect against further damage to margins.
One butac producer said it achieved an increase of €40/tonne from August levels, while a second increased its prices by €50/tonne.
“We had to do this,” the source said last week. “Costs are going up.”
However, one large buyer maintained that prices have held steady from August.
It said it has received offers from distributors and a producer at €1,030/tonne DDP (delivered, duty paid).
“We did not buy anything at such a high price level,” the source said.
($1 = €0.74)
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