SINGAPORE (ICIS)--Asia’s butyl acrylate (butyl-A) prices jumped on a surge in buying in India.
With the regular supply disrupted and shipments delayed from a key supplier in the Middle East, and the production situation unclear, buyers sought cargoes from other Asian sources, pushing up spot prices across Asia.
In the week ended 14 October, butyl-A CIF (cost, insurance and freight) India spot prices for bulk cargoes were at an average of $1,255/tonne, up $110/tonne week on week, according to ICIS data.
Over the same period, CIF southeast Asia spot prices for isotanks were at an average of $1,240/tonne, up $125/tonne from the previous week.
Supply is also snug in the region following recent and upcoming plant turnarounds.
The supply tightness coincided with peak demand season in India and China. In southeast Asia, demand also gradually saw improvement.
After the Chinese market players returned from the Golden Week holiday, the FOB (Free on board) China bulk spot prices rose to $1,200/tonne, up by an average of $140/tonne from 30 September.