MOSCOW (MRC) -- OQ Chemicals (Monheim am Rhein, Germany) will increase its solvents prices in the Americas from 1 December or as contracts allow “due to strong demand and increasing raw materials costs,” reported Chemweek with reference to the company's statement.
In North America and Mexico, the prices of 2-ethylhexanol (2-EH) and n-propanol will rise by 5 cents (cts) per pound (lb); n-butanol and isobutanol by 4 cts/lb; and n-butyl acetate, isobutyl acetate, and n-propyl acetate by 3 cts/lb.
In South America, prices for 2-EH and n-propanol will rise by USD110/metric ton; n-butanol and isobutanol by USD88/metric ton; and n-butyl acetate, isobutyl acetate, and n-propyl acetate by USD66/metric ton.
The manufacturer of oxo intermediates and oxo derivatives raised its prices globally for neopentyl glycol earlier this week.
As MRC wrote earlier, in September 2020, OQ Chemicals entered into an agreement to license its advanced proprietary technology for the production of ethylene and propylene derivatives to Duqm Refinery and Petrochemicals Industries Company (DRPIC) in Oman. DRPIC, a joint venture between Oman Oil Company and Kuwait International Oil Company, is a planned grassroots petrochemical complex at Duqm, Oman. In all, DRPIC awarded twelve license packages to international licensors.
Ethylene and propylene are feedstocks for producing polyethylene (PE) and polypropylene (PP).
According to MRC's ScanPlast report, Russia's estimated PE consumption totalled 1,594,510 tonnes in the first nine months of 2020, up by 1% year on year. Only high denstiy polyethylene (HDPE) shipments increased. At the same time, PP shipments to the Russian market reached 880,130 tonnes in the nine months of 2020 (calculated using the formula: production minus exports plus imports, exluding producers' inventories as of 1 January, 2020). Supply increased exclusively of PP random copolymer.
OQ Chemicals, formerly Oxea, is a global manufacturer of oxo intermediates and oxo derivatives, such as alcohols, polyols, carboxylic acids, specialty esters, and amines. These products are used for the production of high-quality coatings, lubricants, cosmetics and pharmaceutical products, flavours and fragrances, printing inks and plastics. OQ Chemicals is part of OQ, an integrated energy company that delivers sustainability and business excellence. OQ operates in 16 countries and covers the entire value chain from exploration and production to the marketing and distribution of its products.
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