LONDON (ICIS)--European isopropanol (IPA) prices have increased slightly in a balanced-to-tight market, according to sources on Tuesday.
Prices moved up by €10/tonne on the low end to €1,070-1,120/tonne FD (free delivered) NWE (northwest Europe) for technical grade, and to €1,170-1,220/tonne FD NWE for cosmetic grade.
A couple of traders noted that a combination of low availability and producers’ attempts to recover costs from the feedstock propylene price hike have resulted in a slight rise in spot prices.
One trader said: “Demand at the moment is not high but not below par, it’s even on the good side.”
It added: “[In the printing and packaging industry] there is a seasonal build-up towards Christmas, then a quiet period afterwards… the market is now bouncing back from the post-Christmas lull.”
One producer said: “We see still a slight upward move or at least no ‘low’ prices remaining, and product is still a little tight.”
It added that it expected its prices to move up again in the second half of the month.
One distributor saw similar spot prices to last week, but noted that it had become harder to negotiate low prices with some producers.
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