US IPA contract may fall 5-6 cents on falling propylene, demand

27 April 2012 23:35  [Source: ICIS news]

HOUSTON (ICIS)--US isopropanol (IPA) contract prices may fall by 5-6 cents/lb ($110-132/tonne, €84-100/tonne) because of falling demand and feedstock costs, sources said on Friday.

Market participants attributed word of the price reduction by most producers to softer propylene values and slackening demand levels. Earlier contract price-hike initiatives of 5 cents/lb were recently rescinded for similar reasons.  

The current IPA contract range is 88-90 cents/lb, as assessed by ICIS, pending confirmation of recent declines.

Sources described a quiet market as buyers appeared to have moved to the sidelines for the week.

A customer said demand was healthy during the first quarter but had softened notably so far in the second quarter.

April chemical-grade propylene (CGP) settled flat at 76 cents/lb, May CGP contract values were expected to weaken, several sources said.

($1 = €0.76)





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