A continuing slide in the prices of feedstocks n-butanol and propylene has buyers looking for lower contract prices for glycol ethers in August.
Producers have not announced any price increases for glycol ethers since May.
Weaknesses in downstream markets for solvents, plasticisers and other products employing glycol ethers 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 glycol ethers and many other chemicals, fell 1% in June from May, marking a new downturn for the sluggish US residential construction industry.
In feedstocks, n-butanol prices were steady this week but likely to decrease somewhat in August on weak demand.
US refinery-grade propylene (RGP) was steady 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
