27 September 2013 22:10 [Source: ICIS news]
HOUSTON (ICIS)--A buyer of US methyl isobutyl ketone (MIBK) was blunt on Friday about the 6 cent/lb ($132/tonne, €98/tonne) price increase nomination made by Haltermann effective 1 October.
“We’re not going to buy at that price, I can tell you that,” the source said. “And I don’t think anyone else will, either.”
Haltermann made the announcement last week. Dow Chemical and Sasol also made MIBK increase announcements for the month. Dow sought an increase of 6 cents/lb, while Sasol was seeking 5 cents/lb.
As September winds down, however, sentiment in the MIBK market this week is that the increases aren’t warranted and that prices will likely roll over for the month.
“I just don’t see MIBK moving at all in the future,” a source said on Friday.
Current MIBK contract prices are assessed in a range of 110.00-115.00 cents/lb. Spot prices are at 107.00-110.00 cents/lb.
Producers of MIBK include Haltermann, Sasol, Dow and Eastman.
($1 = €0.74)
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