The US markets for oxo-alcohols were steady with adequate supplies to meet existing demand, sources said during the week ended 29 July.
A continuing slide in the price of feedstock propylene has buyers looking for lower contract prices for oxo-alcohols in August.
Producers have not announced any price increases for n-butanol since early May.
Weaknesses in downstream markets for solvents, plasticisers and other products derived from oxo-alcohols were confirmed this week when the Commerce Department announced that the US gross national product grew by only 1.3% in the second quarter, indicating a slowing economy.
Sales of new single-family homes, a key demand indicator for oxo-alcohols and many other chemicals, fell 1% in June from May, marking a new downturn for the sluggish US residential construction industry.
Renewable chemical maker Gevo and South Hampton Resources will build an isobutanol demonstration plant near Houston, Texas, that will process 10,000 gal/month of Gevo's isobutanol into jet fuel for engine testing. Colorado-based Gevo makes isobutanol from vegetable sources. South Hampton Resources is a subsidiary of Arab American Development.
In feedstocks, US refinery-grade propylene (RGP) traded flat this week at 68-71 cents/lb.
This week on ICIS ( www.icis.com ):
29/07/2011 14:30 Europe August propylene fully settles after second number emerges
29/07/2011 10:36 China’s Jiangxi Global Chemical to start up ECH plant in September
29/07/2011 07:23 Japan’s JX Nippon Oil keeps Mizushima cracker operating rate at 50%
29/07/2011 06:27 Japan chemicals output up 3% in June on continued quake recovery
29/07/2011 00:16 US Eastman 2Q net earnings rise on higher prices, sales volume
