29 July 2013 20:27 [Source: ICIS news]
Sources have indicated that IPA producers are seeking prices above the current ICIS assessed spot rates of 58.00-63.00 cents/lb FOB Export.
One buyer was said to have purchased two rail cars of IPA at 64 cents/lb FOB. The buyer tried to negotiate 62 cents/lb, but the producers held firm at 64. Another source indicated hearing rates of 65 cents/lb.
None of the above deals could be confirmed as of Monday, so spot prices remain assessed at the current levels.
Several producers - including Haltermann - earlier this month asked for an increase in IPA. As the month comes to a close, those nominations appear to have failed, with Haltermann rescinding the nomination all together, sources said.
There is, however, pressure on IPA spot pricing, as producers appear to be attempting to pass along higher propylene costs, sources said.
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