Published on November 27, 2014
Demand for IPA and MEA in Southeast Asia has failed to improve in November that too at a time when the market continues to be sluggish and prices of upstream crude, naphtha and acetone decline rapidly.
November and December usually see a rise in demand for IPA and MEK as the region awaits an increase in export orders for end-products. On 21 November, MEK prices were assessed at $1,420-1,450/tonne CFR SE Asia, a decline ofaround $40-50/tonne from the previous week. IPA fell by $10/tonne to $1,270-1,290/tonne CFR SE Asia.
Crude prices have been on a downward spiral since June as a result of poor global demand in an oversupplied market.
Market participants have decided to adopt a wait and see attitude toward IPA and MEK markets.