09 August 2013 21:57 [Source: ICIS news]
Contract prices for IPA have been stable for several months.
One source described the US IPA market as balanced, yet tightening due to increased demand. Several spot deals were heard this week, though none were confirmed.
“I would say the IPA market is balanced and almost strong,” a distributor said. “There is movement out there, and propylene is probably about to go up.”
IPA spot prices have been inching up over the last several weeks. Just this week, a rate of 64 cents/lb FOB (free on board) for 15,000 tonnes of material to South America was heard.
That is one cent higher than the current ICIS assessed range of 58-63 cents/lb. Another source corroborated that range, adding that spot prices will likely head above 63 cents/lb in the coming weeks.
Several IPA producers in July announced price increase nominations, though by the end of the month, those were withdrawn.
Currently, ICIS assessed prices for IPA contract are 76-78 cents/lb ($1,675-1,720/tonne, €1,256-1,290/tonne). Rates for spot export are at 58-63 cents/lb.
($1 = €0.75)
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