LONDON (ICIS)--European isopropanol (IPA) prices have rolled over in an overall balanced market, market sources said on Tuesday.
The product has now been at €1,090-1,140/tonne free delivered (FD) northwest Europe (NWE) for technical grade and €1,190-1,1240/tonne FD NWE for cosmetic and pharmaceutical grade for seven weeks, marking a long period of stability for IPA.
Demand and supply are balanced, with a couple of players noting that feedstock prices are likely to play a major role in future price changes.
One UK-based distributor said: "Pricing seems to have eased a little in the UK - this may be down to propylene being long [although] maybe the number we have now is a correction to make us more competitive."
One trader said that while propylene spot prices have recently decreased, crude oil prices are trending upwards, and suggested that if the propylene contract goes down next month it will also lead to IPA prices easing.
It noted that the stable propylene market since the beginning of the year has also led to relatively flat IPA prices, adding: "IPA is very much connected with propylene."
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