19 April 2010 19:32 [Source: ICIS news]
HOUSTON (ICIS news)--A 3 cents/lb ($66/tonne, €49/tonne) rise in the US contract price for methyl ethyl ketone (MEK) drew little opposition, a buyer said on Monday, resulting largely from feedstock pressures.
A spate of cracker outages beginning early in the year had tightened raw materials within US MEK and other markets.
Going forward, near-term contract pricing appeared stable in the absence of May price initiatives. This came despite demand described as slightly improved in recent weeks, sources said.
A producer said some market participants had forecast the
The MEK spot market was less predictable – “crazy”, one buyer said - with truck and rail prices heard in a wide range of below 70 cents/lb to slightly above 80 cents/lb.
“I can't see the high spot pricing holding”, the buyer said. “The market can't hold a long-term increase. I feel prices will come down to meet foreign markets.”
($1 = €0.74)
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|