06 May 2011 23:59 [Source: ICIS news]
LONDON (ICIS)--European methyl isobutyl ketone (MIBK) prices have reached a record high, increasing by €150–200/tonne ($217–290/tonne) in the last week because of low availability, sources said on Friday.
MIBK is trading at €1,950–2,400/tonne FD (free delivered) NWE (northwest ?xml:namespace>
Players said that sourcing material is now more important than price, and most producers and distributors are sold out of material.
ICIS began compiling pricing records for MIBK on 17 November 1999. The previous record high was €2,000/tonne FD NWE, which was first seen between 12 September and 10 October 2008. Prices hit €2,000/tonne again on 22 April 2011.
Low availability of MIBK is the result of difficulties in sourcing the feedstock acetone.
Sources have speculated that there are production problems at a major European supplier, but this could not be confirmed.
It is unclear how long the MIBK market will remain tight, but availability will remain low until the supply of acetone improves.
Prices at the top end of the range are representative of the distribution market. Producers are offering material at €1,950–2,050/tonne FD NWE.
($1 = €0.69)
Read Paul Hodges’ Chemicals and the Economy blog
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|