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OQ Chemicals raises May prices for oxo intermediates and polyols

May 17/2021

MOSCOW (MRC) -- OQ Chemicals (Monheim am Rhein, Germany) has announced global price increases for several oxo intermediate and polyols products, according to PCE with reference to the company's statement.

Thus, the company will increase prices for the following products effective 13 May, 2021, or as contracts allow: 2-Ethyl Hexanol, n-Butanol, Isobutanol, n-Butyl Acetate, Isobutyl Acetate, n-Propanol, n-Propyl Acetate, Neopentyl Glycol (NPG), Trimethylol Propane (TMP), n-Butyraldehyde, n-Propionaldehyde, and Isobutyraldehyde.

The present price increase is due to unprecedented strong demand and limited availability.

At the same time, details of the specific increases were not provided, with the company asking customers to contact its sales representatives to receive latest prices.

OQ Chemicals has already announced several price increases for its oxo intermediate products this year, citing strong demand and rising raw material costs.

As MRC wrote before, 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 the main feedstocks for the production of polyethylene (PE) and polypropylene (PP), respectively.

According to MRC's ScanPlast report, Russia's estimated PE consumption totalled 576,270 tonnes in the first three month of 2021, up by 4% year on year. Low density polyethylene (LDPE) and high density polyethylene (HDPE) shipments increased. At the same time, PP shipments to the Russian market totalled 410,890 tonnes in January-March 2021, up by 56% year on year. Supply of homopolymer PP and PP block copolymers 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.
Author:Margaret Volkova
Tags:Europe, PP, PE, PP block copolymer, homopolymer PP, propylene, LDPE, HDPE, ethylene, petrochemistry, adhesives, OQ Chemicals (Oxea), Oman, Russia.
Category:General News
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