European oxo-alcohols spot prices were stable to higher in the week

European oxo-alcohols spot prices were stable to higher in the week to Thursday, with sources saying the market was largely balanced. Market participants said that demand from the automotive industry was still weak. However, a tightness of 2-ethylhexanol in the US market led to increased buying interest from US consumers on the European spot market, which in turn provided support to European 2-eh spot prices. Additionally, sources said there was a tightness on the dioctyl terephthalate (DOTP) market caused by a delayed shipment from Korea, which contributed to more inquiries for 2-eh used in the process of creating DOTP. “My opinion is that the 2-eh sector is the most dynamic right now with better demand than in the previous weeks,” a producer said. 2-eh was assessed at Eur1,070/mt Thursday, up Eur10 on the week, within a range of Eur1,050-Eur1,100/mt corroborated by several sources and based on indications of a slight uptick in demand. In the butanols market, sources said demand was weak and there was ample availability of Russian iso-butanol in the Amsterdam-Rotterdam-Antwerp region. N-butanol and iso-butanol were assessed at Eur960/mt FD NWE and Eur800/mt FD NWE, respectively, both stable on the week. Prices for n-butanol were assessed based on a Eur950-Eur960/mt range heard corroborated by several sources and indications of weak demand. I-butanol was assessed within a range heard of Eur700-Eur840/mt and based on unchanged fundamentals. Prices in the phthalic anhydride market rose by Eur10 on the week to Eur950/mt FD NWE, corresponding to a value of Eur950/mt heard in the market. On the upstream OX market, supply was tight on unconfirmed production issues which gave support to the PA market. One PA market participant said that he received “quite a few inquiries for product [since] some [PA] suppliers may not have been able to receive enough OX and had to lower their output.”

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