HOUSTON (ICIS)--Three separate isopropanol (IPA) price increase nominations have emerged in the first half of March 2021 according to market participants.
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These nominations come as propylene, an important feedstock, had its largest month-on-month change in February, increasing 28 cents/lb.
IPA was already facing pressure from higher upstream costs before the winter storm impacted Texas in mid-February, leading to significant power outages and plant shutdowns, including at LyondellBasell and Monument Chemical.
There were already price increase nominations sought for late February and early March.
IPA is a solvent principally used in industrial and consumer products including cosmetics and personal-care products, paints and resins, pharmaceuticals, food, inks and adhesives. It is also used in de-icers in the winter.
US IPA suppliers include ExxonMobil, Dow Chemical, LyondellBasell, Monument Chemical and Shell Chemical.