13 December 2013 16:13 [Source: ICIS news]
HOUSTON (ICIS)--Oxo-alcohol producers are closely monitoring feedstock prices amid a spate of company-announced price increases on their downstream portfolios, a producer said on Friday.
Eastman Chemical has announced that it is seeking further price increases on its oxo-alcohol portfolio for North and Latin America effective 15 January.
The US producer seeks a 5 cent/lb ($110/tonne, €80/tonne) price increase on n-butanol, isobutanol and 2-ethylhexanol (2EH). Increased market demand and operating costs were cited as reasons for the rise.
Just a few days earlier, the Kingsport, Tennessee-based company proposed a 3 cent/lb price increase on these products, effective 1 January.
Eastman’s latest move brings its price rises in line with 8 cents/lb hikes on oxo-alcohols sought by Oxea and Dow earlier this week.
Prices for oxo-alcohol feedstock propylene have been going up. Last week, prices on the December propylene contract rose by 4 cents/lb.
($1 = €0.73)
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