MOSCOW (MRC) -- OQ Chemicals (Monheim am Rhein, Germany) has announced price increases for several oxo intermediate products worldwide, citing strong demand and the rising cost of raw materials, reported Chemweek.
The rise, effective 1 April 2021 or as contracts allow, sees the nominated price for neopentyl glycol increase by 27 cents per pound (cts/lb) in North America and Mexico, by USD600/metric ton in South America and other regions worldwide, and by EUR500/metric ton (USD596/metric ton) in Europe. Trimethylolpropane will rise by a proposed 15 cts/lb in North America and Mexico, by USD330/metric ton in South America and elsewhere, and by EUR270/metric ton in Europe.
N-propanol and n-propyl acetate are both nominated to increase by 10 cts/lb in North America and Mexico, USD220/metric ton in South America and other regions worldwide, and by EUR180/metric ton in Europe.
OQ Chemicals has also announced a price rise in the Americas for 2-ethylhexanol (2-EH), also effective 1 April, with a nominated increase of 30 cts/lb in North America and Mexico, and USD660/metric ton in South America.
The company announced a number of increases in January and February for similar given reasons.
As MRC wrote before, 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 241,030 tonnes in January 2021 versus 217,890 tonnes a year earlier. Only shipments of low density polyethylene (LDPE) and high density polyethylene (HDPE) increased. At the same time, PP shipments to the Russian market reached 141,870 tonnes in January 2021 versus 123,520 tonnes a year earlier. Supply of homopolymer PP and PP block copolymers increased.
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.