22 November 2013 10:01 [Source: ICB]
US oxo-alcohol spot prices were assessed downward on 8 November on softening demand and lower feedstock prices.
Spot prices for n-butanol (NBA) and 2-ethyl hexanol (2-EH) were assessed by ICIS 5 cents/lb ($110/tonne, €81/tonne) lower on deals heard in the market. Export prices for iso-butanol (IBA) were lowered by the same amount on offers heard and bids received.
Export prices for the three alcohols were lowered by a similar amount to reflect growing supply and seasonal softening of demand, as well as lowering feedstock costs.
Spot prices for dioctyl phthalate (DOP) were lowered in line with feedstock 2-EH. Export prices declined as well on deals heard and offers heard from Asian product sold into Latin America.
The lowering of spot prices could signal a decline for the November oxo-alcohols contract. Feedstock propylene has not settled for its November contract price but is expected to decline by about 1 cent/lb.
But oxo-alcohol producers have pointed to gently rising spot prices for chemical-grade propylene (CGP) and ongoing steady demand as evidence that the month could end at a rollover.
Current spot prices for NBA are 93-103 cents/lb, 2-EH at 103-105 cents/lb, IBA at 130-135 cents/lb and DOP at 100-105 cents/lb, according to assessments by ICIS.
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