12 May 2005 09:37 [Source: ICIS news]
SINGAPORE (CNI)--Asian Methyl Isobutyl Ketone (MIBK) prices remain firm at $1650-1700/tonne CFR Southeast Asia amid a persistently tight supply, traders said on Thursday.
MIBK prices were firm even though most other solvents in the region have suffered a price erosion.
The Asian supply was balanced-to-tight after Japan's Mitsubishi Chemicals stopped production at its 20,000 tonne/year plant in end-March due to technical issues. This plant will undergo a turnaround in H2 June.
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Additionally, the new 15,000 tonne/year MIBK capacity planned by Jilin Chemical Group Corp,
Demand from the downstream coatings, pharmaceuticals and rubber chemical sector has remained steady in
The Chinese demand is said to be growing at double digit rates, according to market sources. This has prompted Mitsui Chemicals, one of the largest producers in
All these factors have kept Asian MIBK prices firm and supply tight even as other solvent prices in the region plunged in the same period.
However, with feedstock acetone prices in
ICIS LOR will be publishing weekly price reports for MIBK in Asia, starting from 20 May 2005.
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