Germany-based Oxea announced Monday an increase of Eur100/mt ($131/mt) in off-list butyl acetate prices effective February 1, the producer said in a statement.
Platts assessed butyl acetate at Eur1,030/mt FD NWE on January 24.
The company wasn't immediately available to comment on the reasons for the increase.
The upstream February propylene contract price jumped by Eur90/mt on the previous month to settle at Eur1,105/mt FD NWE, led by a surge in feedstock naphtha.
Oxea settled its propylene supply contract with Shell, the company confirmed on Friday.
Butyl acetate is primarily used in the manufacture process of paints and coatings for furniture, and in the construction and automotive sectors.
