Asia IPA, MIBK track upstream acetone prices; buying activity weak

SINGAPORE (ICIS)–Spot prices of isopropanol (IPA) and methyl isobutyl ketone (MIBK) in Asia were largely stable, tracking the movement of acetone values amid weak buying activity, market players on Monday.

On 17 April, IPA prices were stable week on week at $850-920/tonne CFR (cost and freight) NE (northeast) Asia and at $850-870/tonne CFR China, according to ICIS data. In southeast Asia, prices were assessed at $930-950/tonne CFR SE Asia.

Over the same period, MIBK prices remained at $1,220-1,240/tonne CFR China. In southeast Asia, prices were assessed at $1,230-1,250/tonne CFR SE Asia, up $10/tonne on the low end of the range.

Spot acetone prices were assessed slightly lower at $695-700/tonne CFR China and at $740-760/tonne CFR SE Asia in the week ended 17 April, after staying at $700-710/tonne CFR China and $750-770/tonne CFR SE Asia, respectively, for two weeks, ICIS data showed.

Meanwhile, few concrete discussions for both IPA and MIBK emerged last week as stock requirements for April had been largely met, market players said.

“We had already purchased what we needed in April before mid-month. We won’t be starting negotiations until end-month at the earliest,” a major China-based MIBK buyer said.

An IPA trader, on the other hand, said: “We typically purchase imports only once at the beginning of the month.”

A number of IPA and MIBK producers said they had sold-out April shipments and were not yet active in discussions for May shipments.

Read John Richardson and Malini Hariharan’s blog – Asian Chemical Connections