US IPA contract prices rise by 3 cents on raw material pressure

19 February 2010 22:40  [Source: ICIS news]

HOUSTON (ICIS news)--US isopropanol (IPA) contract prices rose by 3 cents/lb ($66/tonne, €48/tonne) on pressure from raw materials, buyers said on Friday.

The gains took US IPA prices to 77-79 cents/lb, according to data from global chemical market intelligence service ICIS pricing 

IPA feedstock chemical-grade propylene (CGP) contract prices rose by 12% in February from the previous month, fuelled in part by CGP supply constraints stemming from lighter olefins feedstocks.

CGP prices were also pressured upward by higher refinery-grade propylene prices (RGP) prompted by curtailed production as US refineries have run at lower rates because of weak gasoline demand and high inventories, sources said.

In the meantime, two IPA producers have nominated March increases of 8 cents/lb, and a third has proposed a March hike of 5 cents/lb, citing continued upstream pressure.

US IPA producers include Shell, Dow Chemical, LyondellBasell and ExxonMobil.

($1 = €0.73)

For more on IPA visit ICIS chemical intelligence
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By: Larry Terry
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