Spot PM/PMA up on feedstock hikes - sellers

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 Europe) for PM and between €1,420-1,470/tonne for PMA were last published on 28 September, by global chemical market intelligence service ICIS pricing.


European propylene glycol ether producers include BASF, INEOS, Lyondell and Shell.


($1 = €0.71)

By: Sofia Lind
+44 20 8652 3214

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