25 February 2013 23:23 [Source: ICIS news]
HOUSTON (ICIS)--US isopropanol (IPA) contract values settled up for February on strong feedstock pricing and some ongoing supply constraints, sources confirmed on Monday.
Increases of 10 cents/lb ($220/tonne, €168/tonne) were seen mostly at the low end of the range, moving contract values to a new, pre-discount range of 95-96 cents/lb, as assessed by ICIS.
Little or no pushback was seen because buyers conceded upstream pressure from primary feedstock chemical-grade propylene (CGP).
Sources said discounting has become less common within the domestic market, however, leading to some transactions completed on a net basis in a range as low as 85-90 cents/lb.
Among feedstock, US March propylene contracts could see a double-digit reduction based on weakening spot refinery-grade propylene (RGP) prices, some sources said. RGP traded down on Friday compared with a week earlier, but market activity was thin.
February CGP recently settled up by 6 cents/lb, moving the price to 77.5 cents/lb.
On the US truck acetone front, prices recently moved higher from January on tighter supply and rising feedstock costs.
US IPA suppliers include Shell Chemical, LyondellBasell, ExxonMobil, Haltermann and Sasol.
($1 = €0.76)
For more on IPA visit the ICIS Plants & Projects database
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