12 April 2012 20:51 [Source: ICIS news]
The settlement holds US prices for IPA at 88-90 cents/lb ($1,940-1,984/tonne, €1,474-1,508/tonne), as assessed by ICIS.
Offers were higher than demand warranted, a buyer said, “and more product will be coming from
From the start, April pricing efforts were not unanimous because one large producer never announced price-hike efforts.
Buyers described IPA demand as stable to weak, with ample supply. One added that the April offers could not be justified even with a 5% increase in March propylene from April.
IPA contract values were assessed up by 15 cents/lb for March, based largely on a 30% jump in February feedstock chemical-grade propylene (CGP).
US IPA producers include Shell Chemicals, Dow Chemical, LyondellBasell and ExxonMobil.
($1 = €0.76)
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