MIBK prices continue to rise due to recent feedstock increase

21 February 2014 23:59 Source:ICIS News

LONDON (ICIS)--European methyl isobutyl ketone (MIBK) spot prices continued to firm as a recent upward swing in acetone spot prices is still affecting the downstream market, sources said Friday.

Producers said demand is strong and quoted prices as high as €1,520/tonne free delivered (FD) northwest Europe (NWE).

Prices above €1,500/tonne FD NWE, however, could not be widely confirmed in the market.

“Demand from the paint sector is strong and will [continue to] increase,” a producer said.

“Acetone moved up [recently] but demand is more of a driver right now.”

A trader said availability is being reduced but believes acetone is the principal reason for the upward swing in MIBK prices.

The spot price range now stands at €1,450-1500/tonne FD NWE.

By Stefan Naidu