MOSCOW (MRC) -- OQ Chemicals (Monheim am Rhein, Germany) has increased its prices for several oxo intermediate products in the Americas on strong demand and tight feedstocks availability, as per the company's press release.
The announced price rise is effective as of 1 April 2021 or as contracts allow.
Thus, prices for n-butyl acetate and isobutyl acetate will be both increased by 25 cents per pound (cts/lb) in North America and Mexico, and by USD550/metric ton in South America, whereas prices for n-butanol and isobutanol will go up by 20 cts/lb in North America and Mexico, and by USD440/metric ton in South America.
As MRC wrote before, OQ Chemicals has already announced several price increases for its oxo intermediate products so far this year due largely to strong demand and higher feedstocks costs. The most recent announcement was earlier this month, with a nominated increase on several other oxo intermediate products that is also due to come into effect on 1 April.
As MRC reported previously, 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.