Sasol, Dow seek 5 cent/lb US MIBK hikes on higher propylene

14 August 2013 22:18  [Source: ICIS news]

HOUSTON (ICIS)--Sasol and Dow Chemical proposed on Wednesday 5 cent/lb ($110/tonne, €83/tonne) September price increases for US methyl isobutyl ketone (MIBK).

The amount matches the August propylene increase announced earlier this week.

Propylene is a feedstock for MIBK. Isopropanol (IPA) – another propylene derivative – is a feedstock as well.

Several petrochemical producers made across-the-board price announcements on Wednesday, hiking rates on products tied to propylene.

The MIBK market in the US has seen a quiet summer. The market had been described by sources as balanced, though several said during the last few weeks that higher propylene prices could push rates higher.

Current ICIS-assessed contract rates for MIBK are at 110.00-115.00 cents/lb. Spot prices are at 107.00-110.00 cents/lb.

($1 = €0.75)

By: Andrew Guy Jr
+1 713 525 2653

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