Eastman Chemical is set to hike its oxo-alcohol prices in the Americas,the company announced late last week.
Citing increased operating costs driven by higher raw materials, Eastman said that it will hike prices of NBA, IBA, 2-EH, and 2-EH acid by 3 cents/lb in both North and Latin America. The company will also raise prices of n-butyraldehyyde and isobutyraldehyde by 3 cents/lb however only in North America.
The increases are effective September 1, or as contracts allow.
The increases follow a 2 cents/lb hike in the August US propylene contract. Following the increase, August PGP contracts in the US were at 57.50 cents/lb while CGP was at 56 cents/lb. That hike led participants in the US oxo-alcohol market to talk of potential price increases and the Eastman announcement was not unexpected. At time of publication, no other announcements were heard although sources expected others to follow.
August n-butanol prices in the US were heard in the mid-80s cents/lb range delivered while 2-EH was last talked in the low to mid-90s cents/lb range.
Citing increased operating costs driven by higher raw materials, Eastman said that it will hike prices of NBA, IBA, 2-EH, and 2-EH acid by 3 cents/lb in both North and Latin America. The company will also raise prices of n-butyraldehyyde and isobutyraldehyde by 3 cents/lb however only in North America.
The increases are effective September 1, or as contracts allow.
The increases follow a 2 cents/lb hike in the August US propylene contract. Following the increase, August PGP contracts in the US were at 57.50 cents/lb while CGP was at 56 cents/lb. That hike led participants in the US oxo-alcohol market to talk of potential price increases and the Eastman announcement was not unexpected. At time of publication, no other announcements were heard although sources expected others to follow.
August n-butanol prices in the US were heard in the mid-80s cents/lb range delivered while 2-EH was last talked in the low to mid-90s cents/lb range.
