LONDON (ICIS)--European mono propylene glycol industrial grade (MPGI) spot prices were stable this week on the back of a balanced market, said industry players on Friday.
Other grades also remained steady.
This week’s stability comes after slightly firmer sentiment last week, which factored in the rise in upstream propylene contract costs this month as well as some improvement in demand post-summer holidays.
MPGI spot prices stood this week at €1,410-1,460/tonne FD (free delivered) NWE (northwest Europe).
Mono propylene glycol US pharmaceutical (MPG USP) spot prices are mirroring the stable trend in the MPGI market – MPGI and MPG USP are the same molecule – albeit with differing handling and logistical requirements, but balanced market conditions were predominant.
Some sources quoted MPG USP spot prices either side of the €1,500/tonne FD mark.
Di propylene glycol (DPG) spot prices were relatively steady this week – with values largely quoted within the existing range of €2,600-2,850/tonne FD NWE.
Prices remain at a high level historically, underpinned by healthy demand and some ongoing structural supply constraints.
MPGI is mainly used in functional fluids such as de-icer and anti-freeze, along with the unsaturated polyester resin (UPR) sector.
MPG USP finds outlets in pharmaceutical, cosmetics and the animal feed sectors. DPG is used in flavours and fragrances, polyurethanes and the UPR sectors, among others.