Despite Firm Upstream Market, Prices of Butyl Acetate Slipped in Germany
- 16-Mar-2022 3:27 PM
- Journalist: Robert Hume
Prices of Butyl Acetate slipped in Germany in the week ending 18th March where the prices were observed to be hovering between USD 1960 -1980/ton FD Hamburg on with week-on-week basis with declination of 3.38%. Feedstock Acetic Acid market was observed to be surging where the prices were assessed at USD 708/ton DDP Hamburg with week on week increment of 1.57%.
The energy values in the regional market started to rise with increasing Natural Gas and Crude prices. In the first week of March, the benchmark Dutch front-month gas contract at the TTF hub hit to USD 203 per ton. However, feedstock Methanol market remained bearish due to drop in spot demand from gasoline blending. However, Butyl Acetate prices are still on the lower end with slow offtakes from downstream paints and coating industry in the European region. Prices of Butyl Acetate fell with weak market sentiments and insufficient cost support. Traders were heard having sufficient stock due to the widened demand and supply gap in the regional market.
According to ChemAnalyst, “With increasing feedstock crude and Acetic acid market, it is expected that the market will pick up pace and Butyl Acetate prices will surge. Downstream paints and coating industry is estimated to witness a healthy growth with increase in consumption of product from the end users. Eastman, which is an American Chemical industry, is also expected to increase the prices of its Petrochemicals including Butyl Acetate for the global market which is also likely to impact European enterprises. Russia-Ukraine is expected to continue impacting the transportation cost affect the exports to Italy and Spain.”