Supply shortages drive up Europe MEK spot prices

29 July 2014 15:57 Source:ICIS News

LONDON (ICIS)--The persistence of tight conditions in the methyl ethyl ketone (MEK) market has driven up spot prices for those purchasing on a weekly basis, sources said on Tuesday.

“The market is very tight, it’s pushing prices up,” a producer said, adding that it has increased its prices by €80-100/tonne during recent weeks.

“With the fact that some producers have annual shutdowns, our order books are full, we’re struggling to fill orders,” the source added.

A distributor said: “[A producer] is not offering spot material. This makes [another producer] think they can increase pricing. I definitely think if you buy on a weekly basis, you’ll have an increase from [this second producer] of €10-15/tonne [from last week].”

By Jo Pitches