OQ Chemicals Announces Price Increase for 2-Ethylhexanol, Effective from March 2024
Prices of 2 Ethyl hexanol (2-EH) are anticipated to increase globally as OQ Chemical, a leading oxo-alcohol manufacturer announces price hikes for the for the product in the global market with effective from March 1, 2024. On February 15, 2024, OQ Chemicals announced prices hikes of EUR 100/MT for the European market and 110/MT in the prices of 2-EH for the North American, and Asian market respectively.
In terms of supply, prices of feedstock Propylene (Chemical Grade) are further anticipated to show an increment in the global market which is anticipated to increase production costs of 2-EH. The present challenges in the supply chain system were recorded to have been persistent which continued to increase transportation costs.
In the European market, prices of 2-EH continued to be driven increasing production costs of feedstock Propylene which continued to show an increment of 1.3% during the first half of February 2024, mainly due to crisis at the Red Sea which delayed imports of the feedstock from the exporting US market.