16 August 2013 19:37 [Source: ICIS news]
HOUSTON (ICIS)--Eastman Chemical is seeking a 5 cent/lb ($110/tonne, €83/tonne) price increase for methyl isobutyl ketone (MIBK) for September, ICIS learned on Friday.
The proposed increase matches the August propylene price increase announced earlier this week.
Eastman is the third company this week to seek an increase in MIBK, as Sasol and Dow had 5 cent announcements as well.
The US MIBK market has been slow for most of the year. However, sources over the last several weeks have indicated that a spike in propylene could send MIBK prices higher.
Several petrochemical producers made across-the-board price announcements earlier this week, hiking products related to propylene.
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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