05 October 2007 15:06 [Source: ICIS news]
LONDON (ICIS news)--Propylene based glycol ether spot was up €10-30/tonne ($14-42/tonne) this week on reaction to feedstock cost hikes, some sellers said on Friday.
While propylene rose by €10/tonne in the fourth-quarter, methanol was expected to soar by €150/tonne in quarterly contracts according to market players.
Methanol is used in the production of methoxyl-propanol (PM) and methoxyl-propanol acetate (PMA).
PM and PMA prices need to rise by €30-55/tonne in October on this basis, manufacturers said.
One large producer said it would not push for increases until later in the month.
Buyers were against increases, citing balanced supply/demand fundamentals in the market.
Assessed prices at €1,230-1,260/tonne FD (free delivered) NWE (northwest ?xml:namespace>
($1 = €0.71)
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