Mid East IPA rises $50/tonne on high feedstock

09 April 2008 07:46  [Source: ICIS news]

By Desmond Chia

SINGAPORE (ICIS news)--Isopropanol (IPA) in the Middle East has seen a rise of nearly $50/tonne over the last week on high feedstock propylene values and strong demand and prices are expected to continue rising, industry sources said on Wednesday.

“The main reason why IPA prices are rising is attributed to the spike in prices of propylene,” a source said.

IPA prices were assessed this week at $1,310-1,360/tonne CFR (cost and freight) Middle East, up $50/tonne over last week and offers for 1,000 tonne-cargoes were heard higher at $1,360-1,380/ tonne CFR Middle East for May delivery. Ex-tank prices in Middle East were at $1,380-1,400/tonne.

IPA supplies into the Middle East mainly come from Europe and Singapore.

Asian propylene prices were assessed last week at $1,260-1,300/tonne CFR northeast (NE) Asia and southeast (SE) Asia, an increase of about $20/tonne from last week

IPA has been firming in India as well on a supply crunch and high feedstock prices and had risen $25/tonne over last week's rates to $1,275-1,325/tonne CFR India.

By: Desmond Chia
+65 6780 4359

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