Prices of n-Butanol across the German market have witnessed an inflation of approximately xxx during March xxxx due to tight supply conditions, increasing prices of feedstock Propylene the recent announcements of prices hikes initiated by major oxo-alcohol producers owing to tight supply conditions.
With OQ Chemicals being recorded to have declared a force majeure at its production site at Oberhausen, Germany on February xx, xxxx, and not being reported to commence operations since, supply conditions regarding oxo-alcohol (including n-Butanol) the availability of the product was recorded to have been largely restrictive. As response, OQ Chemicals announced prices hikes EUR xxx/MT of all oxo-intermediates including n-Butanol for the European market on press release dated February xx, xxxx. Complementing to the inflation in the prices of n-Butanol, feedstock Propylene prices also increased by approximately xx in March xxxx which also prompted production costs to rise.
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