07 January 2013 22:39 [Source: ICIS news]
HOUSTON (ICIS)--US isopropanol (IPA) producers are pursuing contract price increases for mid-January on anticipated higher feedstock costs, sources said on Monday.
Most producers have announced plans to increase IPA contract values by 10 cents/lb ($220/tonne, €168/tonne), effective 15 January, though supply was said to be increasingly balanced with demand in recent weeks.
Contract values for December were assessed at rollovers, after supply constraints during most of the fourth quarter began to ease as the Christmas and New Year’s holidays approached. November contracts were assessed up by 3 cents/lb.
The current December US IPA contract range is 75-80 cents/lb, as assessed by ICIS.
The nominations included a 13 cent/lb increase by a chemical-grade propylene (CGP) producer and an 11.50 cent/lb increase by a producer of both CGP and polymer-grade propylene (PGP).
On the US truck acetone front, December prices jumped by 5 cents/lb, or 7.7%, on tight supply and higher propylene. The gain followed price hike nominations of 5-6 cents/lb.
US IPA suppliers include Shell Chemicals, Dow Chemical, LyondellBasell, ExxonMobil, Haltermann and Sasol.
($1 = €0.76)
For more on IPA, visit the ICIS Plants & Projects database
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