US IPA contracts gain 5 cents/lb on upstream pressure

14 January 2011 21:58  [Source: ICIS news]

HOUSTON (ICIS)--US isopropanol (IPA) contracts rose by 5 cents/lb ($110/tonne, €83/tonne) because of recent gains in feedstock propylene, sources said on Friday.

In December, US propylene contracts rose by 3 cents/lb while spot prices surged, providing momentum for the spike in January.

In January, chemical grade propylene rose by 15 cents/lb.

The gains moved the IPA contract to a new range of 79-82 cents/lb, as assessed by ICIS,  and will fortify mid-January IPA initiatives of plus 10 cents/lb from at least two major producers.

A third producer was expected to postpone a price-hike initiative of 10 cents/lb until 1 February.

($1 = €0.75)

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