01 October 2013 22:08 [Source: ICIS news]
HOUSTON (ICIS)--US butyl acetate (butac) prices rolled over for the month, and sources said on Tuesday that it is too soon to tell whether October price hikes will hold. So far, though, things look bleak, the source said.
After failed nominations in September, October nominations also appear headed for a dead end. One source indicated that buyers and distributors are not backing down from not accepting the increases. The source indicated, however, that more butac nominations could come in the middle of the month.
Sentiment in the butac market the last several weeks has been that prices may be inching up, due to steady demand as well as increased costs of propylene. Several producers sought increases for September, but indications from several sources are that those nominations have failed.
Overall, US butac prices in 2013 have been stable-to-soft.
Current assessed butyl acetate prices are 84-87 cents/lb ($1,852-1,918/tonne, €1,305-1,419/tonne) for contract, 86-90 cents/lb for distributor and 82-85 cents/lb for spot.
Major US butyl acetate producers are Dow, Eastman and LyondellBasell.
($1 = €0.74)
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