Market stable amid absence of buyers

Spot trading activity for oxo-alcohols was thin this week as sellers and buyers in China and Southeast Asia were largely absent for Lunar New Year holidays. Despite the scant trading activity in the region, there was some last-minute restocking seen from buyers in Southeast Asia. A South Korean producer sold 20 mt of dioctyl phthalate to a buyer at $1,240/mt CFR Southeast Asia. This trade was not factored into Csg assessment as it is below the minimum cargo size requirement of 100 mt. Producers were bullish on 2-ethyl hexanol, expecting a price hike after the Lunar New Year. A Taiwanese 2-EH producer said stronger crude oil and naphtha markets could also lend support.

RATIONALE:

Dioctyl phthalate was assessed unchanged week on week at $1,050/mt CFR China Wednesday, as it was heard tradable at $1,050/mt CFR China. The CFR Southeast Asia marker was assessed unchanged over the same period at $1,210/mt and heard tradable around that level. Phthalic anhydride was assessed unchanged on week at $900/mt CFR China and $965/mt CFR Southeast Asia, and heard tradable at those levels. 2-EH was assessed unchanged on the week at $1,035/mt CFR China, as price discussion was heard around $1,035/mt CFR China. The Southeast Asia marker was assessed unchanged on week at $1,075/mt in muted trading. Normal butanol was assessed unchanged on week at $910/mt CFR China, below a selling indictation heard at $930/mt CFR China and a tradable level heard at around $910/mt CFR China. The Southeast Asia marker was also heard tradable around $910/mt.

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