Although the market is optimistic that demand will improve in mid August, demand in the isopropanol (IPA) market has decreased this week. Prices fell in the domestic, export and spot markets.
Domestic prices fell 5 cents / pound (110 US dollars / ton) at the high end and 7 cents / pound (154 US dollars / ton) at the low end. Currently, the delivery price in the Gulf of Mexico is 58-70 cents / pound.
Market participants said activity in the spot market declined this week as buyers said they had sufficient stocks. Spot prices fell 3-5 cents / pound to 60-68 cents / pound (FOB US Gulf).
In some cases, the buyer is willing to buy the inventory of isopropanol. However, with multiple suppliers offering products for sale, buyers feel they are in a better negotiating position than expected.