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)
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