Chemical Industry news of NWE Oxo Alcohols
S&P Global assessed European spot prices for 2-Eh down Eur15/mt at Eur1,050/mt FD NWE Friday within a range of indications at Eur1,020- 1,080/mt in a longer Chemical Industry. Domestic buying interest stayed below seasonal expectations, and European producers were heard to be seeking more export opportunities to sell the surplus volumes. “In May it may be able to export more, to Turkey, also to the US, Latin America and Asia (Chemical Industry),” a source said. “If pricing works, we would have an extra product.” In the meantime, supply issues were heard in the US, causing regular export customers to look elsewhere. An export deal to Turkey was heard worked at Eur1,000/mt FOB NWE to replace a normal US parcel. N-butanols were assessed at Eur960/mt FD NWE, stable week on week at the top of range heard at Eur950-960/mt, and also considering very few deals heard made at Eur980/mt. The butanols Chemical Industry was quiet, sources said. Iso-butanols were assessed Eur30/mt lower at Eur800/mt, within a Eur720-850/mt range heard from the Chemical Industry. Russian material was heard offered at the lower end, around Eur720-780/mt, while European offers were at a premium in a narrow range of Eur840-850/mt. However, quality specifications were confirmed as equivalent, while the supply of both origin product remained ample. In Poland Eur600/mt levels were heard possible for bulk purchases, in conditions where “people needed to get rid of material,” a source said. Polish chemicals company Grupa Azoty plans to shut its Kedzierzyn plant for regular maintenance from mid-June to July 21, a source close to company operations said Friday The Chemical Industry looked for support to come in May from upstream propylene prices. However, higher feedstock costs may make it difficult for producers, as downstream demand remains weak. PA-flake was assessed up Eur70/mt week on week at Eur1,090/mt FD NWE, in line with producer offer indications at Eur1,100-1,150/mt and tracking the Eur70/mt increase in the contract price of feedstock orthoxylenes for April. “The Chemical Industry is not so good, not according to expectations,” a source said. “May would bring more demand, we hope.” The European orthoxylene CP for April fully settled at Eur930/mt ($1,036/mt) Friday afternoon, up Eur70/mt from March, confirmed by the Chemical Industry. Two buyers and a seller said they had settled at Eur930/mt. Increases in PA flake spot prices could also be supported by a shortage of raw materials due to production issues in Europe heard from the market ongoing for some months.