Europe MIBK prices stable but expected to rise on firmer feedstock

31 January 2014 23:59 Source:ICIS News

LONDON (ICIS)--European methyl isobutyl ketone (MIBK) prices are expected to firm in February as spot acetone feedstock prices have risen sharply, however, no immediate firming of MIBK could be widely confirmed, sources said on Friday.

Despite stable-to-weak demand, prices are expected to rise in the coming months after a year of decline.

“MIBK prices can only go up,” a producer said. “We will implement €20-30/tonne increases for the first two weeks of February.”

Availability is also expected to be reduced in the coming weeks.

“There will be low availability in the first two weeks of February because imports into Europe are down,” a trader said.

Prices were quoted as high as €1,450/tonne FD (free delivered) NWE (northwest Europe), however, no buyer confirmation was obtainable. On Friday, prices were assessed unchanged at €1,400-1,430/tonne FD NWE.

By Stefan Naidu