MOSCOW (MRC) -- Eastman Chemical announced it is seeking a price increase on US ethyl acetate (etac) effective 1 December, said the company.
Eastman Optifilm™ Enhancer 300: Offlist Price increase of USD 0.09/LB (USD 0.20/KG) in North America and Latin America.
Eastman Texanol™ Ester Alcohol: Offlist Price increase of USD 0.09/LB (USD 0.20/KG) in North America and Latin America.
Etac is used in coatings, pharmaceutical and solvents.
Major US producers of etac include Celanese, Eastman Chemical, Sasol and Solvay.
As MRC reported earlier, Air Liquide plans to invest over USD160 million in new capacity and upgrades to support a long-term agreement under which the company will supply additional gaseous oxygen, nitrogen, and syngas to Eastman Chemical’s Longview, Texas, facility.
We remind that in 2016, Eastman Chemical's chief executive Mark Costa announced that the company wanted to reduce its surplus ethylene and commodity intermediates, but did not intend to sell its cracker in Longview, Texas.
Ethylene and propylene are feedstocks for producing polyethylene (PE) and polypropylene (PP).
According to MRC's ScanPlast report, Russia"s estimated PE consumption totalled 1,594,510 tonnes in the first nine months of 2020, up by 1% year on year. Only high denstiy polyethylene (HDPE) shipments increased. At the same time, PP shipments to the Russian market reached 880,130 tonnes in the nine months of 2020 (calculated using the formula: production minus exports plus imports, exluding producers" inventories as of 1 January, 2020). Supply increased exclusively of PP random copolymer.
As per MRC's ScanPlast report, Russia's estimated consumption of PC granules (excluding imports and exports to/from Belarus) rose in the first three quarters of 2020 by 32% year on year to 75,600 tonnes (57,200 tonnes a year earlier).
Eastman is a global specialty chemical company that produces a broad range of products found in items people use every day. With a portfolio of specialty businesses, Eastman works with customers to deliver innovative products and solutions while maintaining a commitment to safety and sustainability. Its market-driven approaches take advantage of world-class technology platforms and leading positions in attractive end-markets such as transportation, building and construction and consumables. Eastman focuses on creating consistent, superior value for all stakeholders. As a globally diverse company, Eastman serves customers in more than 100 countries. The company is headquartered in Kingsport, Tennessee, USA and employs approximately 14,500 people around the world.
MRC