Shell Chemical to raise US IPA pricing by 10 cents/lb in mid-January
http://www.chemnet.com Jan 11,2018 plattsShell Chemical will increase its US isopropyl alcohol pricing by 10 cents/lb ($220/mt) in mid-January, the company said.
The price rise will take effect on January 16 or as contracts allow, the company said in a letter to customers seen by S&P Global Platts Wednesday.
The company did not cite a specific reason for the increase.
Dow Chemical and Monument Chemical also announced mid-January price increases of 5 cents/lb ($110/mt), a source said.
Confirmation from the respective companies was not available Wednesday.
The market has seen pressure from rising feedstock contract pricing and supply tightness, sources say.
Feedstock chemical-grade propylene has also seen strength early in the year, with spot prices reaching a three-year high amid ongoing unplanned outages coupled with a delay in the startup of a much-anticipated propane dehydrogenation plant choking supply lines, sources said.
Platts last assessed US IPA on Tuesday at 66-67 cents/lb ($1,455-$1,477/mt) FOB USG and 67-68 cents/lb ($1,477-$1,499/mt) DER.