US butyl acetate (butac) prices remained stable during the week ended 2 August, according to market sources.
Market observers confirmed the published ranges.
In feedstocks, US propylene seesawed, with refinery-grade propylene (RGP) spot prices slipping while polymer-grade propylene (PGP) numbers continued to rise and chemical-grade (CGP) spot values inched up as well.
US propylene inventories fell by 0.75% in the third week of July from the 2011 high recorded in the previous week, according to the latest figures from the Energy Information Administration (EIA).
Energy prices declined. NYMEX front-month natural gas futures closed at $4.15/MMBtu, down by 5% from a close at $4.37/MMBtu a week earlier.
Oil also fell, with front-month NYMEX crude futures closing at $93.79/bbl, a drop of 6% from $99.59/bbl a week earlier.
Sales of new single-family homes, a key demand indicator for oxo-alcohols and many other chemicals, fell by 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.
($1 = €0.70)
This week on ICIS news ( www.icis.com):
29-Jul-11 21:12 Eastman's Sterling purchase to keep long-term acetic tie with BP
29-Jul-11 00:22 US methanol contract prices almost reach 3-year high on outages
28-Jul-11 23:05 US Methanex says outages, supply issues raising methanol prices
28-Jul-11 05:20 Methanex Q2 net profit nearly triples on strong methanol prices
27-Jul-11 19:50 Methanex nominates 138 cents/gal for August US methanol, up 8%
