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China n-propyl acetate prices were under pressure, down *.** at the beginning of November, FOB Qingdao. The extended *.** drop in spot prices seen in the first week of the month, which is the largest decrease since June ****. The sustained decrease was mainly due to continual weakness on both key feedstocks.
Prices of f n-propanol (feedstock of n-Propyl Acetate) fell as domestic producers of propylene and syngas based kept high running rates despite weak demand for derivatives. Acetic acid also followed suit, the values of East China spot acetic acid slumped on ample supply from newly start-up and restarted capacities as well as tepid demand from PTA and acetate ester chains. Given that raw materials make up approximately **-*** of n-Propyl Acetate production costs, the double barrel feedstock fall completely corrupted the rest of cost support, leaving n-Propyl Acetate producers no choice but to slash their selling prices aggressively...
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