US isopropanol contract values weaken by 10 cents/lb

07 November 2011 23:04  [Source: ICIS news]

HOUSTON (ICIS)--US isopropanol (IPA) contract values slipped by another 10 cents/lb ($220/tonne, €161/tonne) during the first of week of November, sources said on Monday.

Ample supply and soft conditions were expected to persist throughout the fourth quarter and were said to be exerting downward pressure on IPA, with weaker feedstock chemical-grade propylene (CGP) as the primary cause.

The decline took contract prices to a new range of 75-77 cents/lb for most mid-volume customers, as assessed by ICIS, but additional near-term price weakness of 3-4 cents/lb was said to be likely.

Contract prices for much larger customers were confirmed in the low-to-mid-60s cent/lb range.

Contract values recently fell by 4 cents/lb during October on soft demand and more available supply.

Ongoing soft market conditions include seasonally soft demand and ample supply both domestically and from imports.

November propylene contracts were nominated at reductions of 3.50 and 4.00 cent/lb for November, with settlements expected later this week, sources said. The feedstock recently dropped by 14 cents/lb for October on excess inventory.

($1 = €0.73)

For more on IPA, visit ICIS Chemical Intelligence
Paul Hodges studies key influencers shaping the chemical industry in Chemicals and the Economy

By: Larry Terry
1 713 525 2653

AddThis Social Bookmark Button

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.

Printer Friendly