Eastman seeks 3-cent increase for US butac

13 June 2014 21:08 Source:ICIS News

HOUSTON (ICIS)--Eastman Chemical is seeking 3 cent/lb ($66/tonne) increase for US butyl acetate (BUTAC) for 1 July, the company announced on Friday.

The company cited “increased market demand & operating costs, particularly in raw materials” in the announcement as reason for the increase.

The announcement was the second butac announcement this week. Oxea made a separate 3-cent announcement for butac on Friday.

Current ICIS-assessed prices of US butac are 91-94 cents for contract prices, 92-94 for distributor prices, and 82-85 for spot prices.

Major suppliers of butac are Dow Chemical, Eastman Chemical and Oxea.

By Andrew Guy Jr