MOSCOW (MRC) -- Oxo intermediates and derivatives producer OQ Chemicals (Monheim am Rhein, Germany) says it will increase prices for several of its amines products due to supply and demand as of 1 January 2021 or as contracts allow, said Chemweek.
The price of isopropylamine will rise to EUR150/metric ton ($183/metric ton) in Europe, by 8 cents (cts) per pound (lb) in North America and Mexico, and by USD182/metric ton in the rest of the world. Prices for butylamine, dibutylamine, and tributylamine will each be increased by EUR100/metric ton in Europe, 5 cts/lb in North America and Mexico, and USD121/metric ton in the rest of the world.
The company hiked its prices for other oxo intermediates and carboxylic acids earlier this week.
As per MRC, OQ Chemicals (Monheim am Rhein, Germany) is raising its prices globally for carboxylic acids, starting 1 January 2021 or as contracts allow. The company says that due to supply and demand the price of 2-ethylhexanoic acid (2-EHA) will rise in Europe by EUR85/metric ton (USD103/metric ton), in the US by USD0.05/lb, and in the rest of the world by USD110/metric ton. The prices of n-butyric acid and isobutyric acid will each increase in the US by USD0.05/lb and USD110/metric ton in the rest of the world but will not rise in Europe.
As MRC wrote earlier, 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 1,760,950 tonnes in the first ten months of 2020, up by 3% year on year. Only high density polyethylene (HDPE) and linear low density polyethylene (LLDPE) shipments increased. At the same time, PP shipments to the Russian market reached 978,870 tonnes in January-October 2020 (calculated using the formula: production minus exports plus imports minus producers' inventories as of 1 January, 2020). Supply of exclusively of PP random copolymer 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.
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