27 May 2011 19:01 [Source: ICIS news]
HOUSTON (ICIS)--US isopropanol (IPA) contract prices rose by 10 cents/lb ($220/tonne, €157/tonne) for May on tight supply and rising feedstock prices, sources said on Friday.
The increase moved IPA contracts to a new range of $1.12-1.15 cents/lb, before discounts, as assessed by ICIS.
Prices previously rose by 13 cents/lb during April on similar market fundamentals. IPA remains tight and on sales control, sources said. In addition, most producers have proposed June increases of 10 cents/lb.
Feedstock chemical-grade propylene (CGP) contracts for May settled at a record high for the second consecutive month, reaching 95.50 cents/lb after an 11% gain of 9.5 cents/lb. April CGP contracts increased by 15 cents/lb from March.
Sources suggested the feedstock’s price momentum would wane for June contracts, following declines in crude and gasoline prices.
US IPA suppliers include ExxonMobil, Shell Chemical, Dow Chemical, LyondellBasell, Haltermann and Sasol.
($1 = €0.71)
For more on isopropanol, visit ICIS chemical intelligence
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