US January MIBK contract jumps 7 cents/lb on propylene

07 February 2014 21:44 Source:ICIS News

HOUSTON (ICIS)--January contract prices for US methyl isobutyl ketone (MIBK) increased 7 cents/lb ($154/tonne) on Friday, as price increase announcements by several producers took hold in the market.

The higher prices reflect margin pressure from feedstock propylene, which had seen drastic increases the last few months.

Contract prices for MIBK increased to a range of 117-122 cents/lb ($2,579-2,670/tonne), as assessed by ICIS.

Spot prices held steady for the week in a range of 109-112 cents/lb, as assessed by ICIS.

Several MIBK producers made separate 8 cent/lb price increase nominations for January. Those nominations were deemed strong in the market, as propylene prices for December and early January had spiked.

There are also price increase announcements for February. However, many market sources said they doubt those will gain traction.

US producers of MIBK include Eastman, Dow Chemical, Haltermann and Sasol.

MIBK February announcements

Effective date

Product

Company

Potential increase

Region

1 Feb

MIBK

Dow

3 cents/lb

US

1 Feb

MIBK

Eastman

3 cents/lb

US

1 Feb

MIBK

Haltermann

3 cents/lb

US


By Andrew Guy Jr