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OQ Chemicals hikes oxo intermediates prices on rising demand, raw material costs

January 15/2021

MOSCOW (MRC) -- OQ Chemicals (Monheim am Rhein, Germany) has announced price increases in the Americas for its oxo intermediate products due to strong demand and increasing raw material costs, according to Chemweek.

The rise in prices for oxo alcohols and oxo acetate esters is effective as of 1 February 2021 or as contracts allow.

In North America and Mexico, the price of 2-ethylhexanol (2-EH) will increase by USD0.07/lb, while n-butanol, isobutanol, n-butyl acetate, and isobutyl acetate will rise by USD0.06/lb. N-propanol and n-propyl acetate prices will increase by USD0.05/lb.

In South America the price of 2-EH is being increased by USD154/metric ton, while n-butanol, isobutanol, n-butyl acetate, and isobutyl acetate will rise by USD132/metric ton. Prices for n-propanol and n-propyl acetate are being increased by USD110/metric ton.

OQ also raised prices on 1 January for oxo intermediates due to rising raw material costs and increased demand.

As MRC reported 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 DataScope report, PE imports to Russia decreased in January-November 2020 by 17% year on year and reached 569,900 tonnes. High density polyethylene (HDPE) accounted for the greatest reduction in imports. At the same time, PP imports into Russia increased by 21% year on year to about 202,000 tonnes in the first eleven months of 2020. Propylene homopolymer (homopolymer PP) accounted for the main increase in imports.

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.
Author:Margaret Volkova
Tags:North America, South America, PP, PE, propylene, ethylene, petrochemistry, Duqm Refinery and Petrochemical Industries Company (DRPIC), OQ Chemicals (Oxea), Oman, Russia.
Category:General News
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