Monument Chemical plans to increase US isopropyl alcohol prices by 5 cents/lb effective September 1, 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.
Market participants anticipated increases for September given rising pricing in upstream propylene. The most recent August propylene contract nominations have called for increases of 4 cents amid stronger spot pricing in response to production issues.
ExxonMobil Chemical on Wednesday announced an increase of 5 cents/lb for IPA in September, according to a letter to customers.
S&P Global Platts assessed US IPA on Tuesday at 35.50-36.50 cents/lb ($783-$805/mt) FOB USG and 37.50-38.50 cents/lb ($827-$849/mt) DER.
