25 March 2010 22:43 [Source: ICIS news]
HOUSTON (ICIS news)--US monopropylene glycol (MPG) producers could propose price increases in May if propylene values rise 8-11 cents/lb ($176-243/tonne, €132-182/tonne) as expected, a producer said on Thursday.
US MPG producers recently proposed price increases of 5 cents/lb for April.
“We cannot discuss our price plans, but it is well known that propylene values are one of the market drivers for MPG, “ the producer said, adding that an increase in production costs would squeeze margins.
Throughout the first quarter, buyers accepted MPG price increases amid the run-up in propylene values and robust demand. Chemical-grade propylene (CGP) settlement prices climbed 11.5 cents/lb between January and March.
Industrial-grade MPG prices for March were 79-88 cents/lb, according to global chemical market intelligence service ICIS pricing.
($1 = €0.75)For more on MPG visit ICIS chemical intelligence
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