Soaring Raffinate values leads to a Hike in the Global Isobutylene Prices
Global uncertainties amid the ongoing crisis between Russia and Ukraine have resulted in strong crude oil prices in the global market. Consequently, cost pressure over Raffinates and further downstream Butylene and Isobutylene prices has increased. Hence, prices of Isobutylene have shown an upward trajectory during the past few weeks on the back of robust Raffinate R1 and R2 prices. Furthermore, strong demand for Isobutylene from tire and gasoline additives has been driving the prices higher as Isobutylene is used in the manufacture of Elastomers. Isobutylene is also majorly used as a monomer to produce polymers including polybutene, and Polyisobutylene. As Per ChemAnalyst database, the prices of Isobutylene FD Hamburg Germany were assessed at USD 1115 Per tonne, while Quotation in the USA FAS Texas was reported around USD 1050 per tonne. The ongoing crisis between Russia and Ukraine has majorly influenced upstream crude oil prices and downstream Raffinate prices which has...