04 April 2011 22:11 [Source: ICIS news]
Damage from a fire forced a shutdown of the plant in
The outage has put a squeeze on MEK supply, a
Another buyer said the catastrophe had clearly slowed shipments from
The dearth of MEK is also increasing demand for ethyl acetate, a substitute for MEK, especially in the production of inks and coatings, sources said.
Shortages in the US have recently driven up domestic spot truck and rail prices and lent support to proposed April contract price increases of 5 cents/lb ($110/tonne, €77/tonne), sources said.
Domestic sales controls were said to be in effect in the
Spot activity was minimal so far, a
Asian material also reached new highs as severe shortages there led buyers to raise their price ideas, but many suppliers had suspended discussions with buyers in the immediate aftermath of the storm. Tight prompt supply confined trade to small parcels in iso-tanks or drums, Asian sources said.
An Asian exporter of MEK from Maruzen said it was currently tapping spot volumes in Asia to supply customers in
US MEK suppliers include ExxonMobil, Shell and Sasol.
($1 = €0.70)
For more on MEK, visit ICIS chemical intelligence
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