HOUSTON (ICIS)--Eastman Chemical is seeking price increases on oxo-alcohols in North and Latin America, effective on 15 February or as contracts allow, according to information available on Monday.
Eastman is looking to increase the list prices of isobutanol (IBA), n-butanol (NBA), and 2-ethylhexanol (2-EH) by 4 cents/lb ($88/tonne) in North America and Latin America.
The company also proposed a 4 cent/lb off-list price increase for NBA and 2-EH in North America and Latin America and for IBA in North America.
Currently, ICIS-assessed contract prices are 94-101 cents/lb for NBA, 128-133 cents/lb for IBA and 106-108 cents/lb for 2-EH.
Eastman cited tight market conditions and elevated operating costs as the reason for price increases. In January, Eastman announced a 3 cents/lb off-list price increase for NBA, IBA and 2-EH in the Americas, effective on 1 February.
Major oxo-alcohol producers include Eastman Chemical, Dow Chemical, Oxea and BASF. Sasol produces NBA.