Europe MIBK spot prices static amid muted market activity

15 July 2014 17:36 Source:ICIS News

LONDON (ICIS)--Spot prices have remained at the same level amid muted activity in the European methyl isobutyl ketone (MIBK) market, despite recent hikes in the price of feedstock acetone, market sources said on Tuesday.

Prices are at €1,490-1,560/tonne FD (free delivered) (NWE) northwest Europe.

The European acetone contract price has increased from €943/tonne in June to €957/tonne in July, and spot prices have also largely trended upwards. However, this has not yet created any upward pressure on the MIBK market.

Conditions are described as quiet, with fairly weak demand and adequate availability.

One producer put prices at €1,525-1,555/tonne FD NWE, and said: “Demand is good and I think looking at sales for this month it’s going pretty well. There is no problem with supply in the market, availability is good.”

A distributor said: “There is not much difference in price between the various suppliers, the range is €1,490-1540/tonne.”

It added: “Demand is pretty slow at the moment. The summer season will definitely have an influence; the south of France and Italy close down for three weeks, whilst Benelux and Germany are more divided but there is also less business.”

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By Chris Barker