Normal butyl alcohol prices rose
Normal butyl alcohol prices went up by $20/mt week on week at $740/mt CFR China and $750/mt CFR Southeast Asia Thursday on 22/12/2016, tracking feedstock propylene prices, which increased sharply by $50/mt week on week assessed at $910/mt CFR China on Thursday. A trade source said Middle East origin NBA cargoes had traded at $740/mt CFR China recently. In other chemicals market news, Japan’s KH NeoChem will lower the operating rate of its oxo-alcohols plant located at Yokkaichi over mid-April to mid-May for the maintenance, a source said. The plant has installed capacity around 130,000 mt/annum of NBA, 120,000 mt/annum of 2-ethyl hexanol and 13,000 mt/annum of iso-butanol, the operating rate will be reduced by 50% for all the products as per expectation, the source said. A trade source said other oxo-alcohol producers in Japan also expected for the maintenance around the same time, which include lowering plant operation rates or shutting down, potentially supporting prices after the Lunar New Year holidays in late January next year.
2-ethyl hexanol prices went higher
2-ethyl hexanol prices noticed up by $15/mt at $865/mt CFR China and $885/mt CFR SEA Thursday. Bids for the were heard at $860/mt CFR China but negotiations were not very active, sources said. A Japanese producer said December spot trades were settled some time ago and January discussions would only start next week or later. In China the domestic chemical price was heard to be around Yuan 7,400/mt, or about $846/mt on an import parity basis, this week.
Dioctyl phthalate prices went down
Dioctyl phthalate prices dropped $15/mt week on week to be assessed at $980/mt CFR China Thursday, amid lower domestic chemical prices and some large Taiwanese cargoes heard traded at $1,035/mt — roughly equal to $970-$980/mt after conversion to dutiable origin. South Korean origin cargoes were heard offered at $990/mt CFR China this week. Dioctyl phthalate prices in the domestic China market fell by about Yuan 175/mt to Yun 8,325/mt, or about $953/mt on an import parity basis.
Phthalic anhydride prices increased
Phthalic anhydride prices jumped $25/mt to be assessed at $980/mt CFR China, on a higher chemical price level heard in Southeast Asia, and FOB Korea and FOB Taiwan offers seen above $1,000/mt. Orthoxylene-based Pthalic anhydrde prices were heard to be around Yuan 8,250/mt this week, or about $944/mt on an import parity basis, while naphthalene-based Pthalic anhydride was heard at Yuan 7,700/mt, or about $880/mt on an import parity basis.
Asian Normal alcohol prices was assessed up $20/mt week on week at $740/mt CFR China and $750/mt CFR Southeast Asia Thursday, as a Middle Eastern cargo was heard to have traded at $740/mt CFR China, and amid firming propylene prices. 2-ethyl alcohol prices was assessed up $15/mt week on week at $865/mt CFR China, as feedstock prices rose and bids were heard to be close to such levels. The CFR Southeast Asia marker was assessed up $15/mt at $885/mt, tracking China. DOP declined $15/mt week on week at $980/mt CFR China and $990/mt CFR SEA, based on tradeable indications and offers heard. Phthalic anhydride prices was also assessed up $25/mt week on week at $980/mt CFR China and up $35/mt at $1,000/mt CFR SEA. CFR Southeast Asia was heard traded at that level, while CFR China was assessed up tracking Southeast Asia as well as deals heard on FOB Taiwan basis at $1,010-$1,020/mt.
European chemicals prices noticed stable
Northwest European normal and iso butanols prices were stable week on week on Thursday at Eur685/mt and Eur610/mt, respectively. Sellers were resisting price falls since the BASF outage cutting European production but now an expectation that propylene prices would rise in January added support. Prices have not increased, however, because subdued end of year demand prevails. Feedstock propylene prices are expected to follow bullish movement in its primary feedstock within Europe, naphtha. “January’s contract price is expected to be higher, not on fundamentals but just on naphtha,” a participant in the propylene contract price settlement process said Friday. Naphtha, the primary feedstock for olefin production in Europe averaged $456/mt CIF NWE for cargoes this month so far on Thursday, compared with $416/mt in November. As a result of the increase in naphtha, propylene indicator for January’s chemical contract price was assessed at Eur763.50/mt on Thursday, Eur38.50/mt above the industry settlement for December.2-EH: Northwest European 2-ethylhexanol prices were assessed at Eur895/mt Thursday, flat on the week. Markets for all oxo alcohols were muted in Europe on the approach to Christmas. A bullish Asia market continues to support the European one, offsetting subdued December demand. 2-ethyl hexanol in Asia was assessed up $15 at $865/mt CFR China and $885/mt CFR SEA Thursday.PA: Northwest European phthalic anhydride prices were assessed at Eur980/mt FD NWE Thursday, flat on the week following a Eur70 fall last week. Prices fell in early December on subdued demand as producers looked to reduce inventories ahead of the year-end. Further price falls were not heard this week, while a bullish Asia lent support to the European Phthalic anhydrde market. Asian PA prices jumped $25 to be assessed at $980/mt CFR China, on a higher price level heard in Southeast Asia, and FOB Korea and FOB Taiwan offers above $1,000/mt.