Shell Chemical will raise US isopropyl alcohol pricing by 5 cents/lb effective March 15, the company said.
The company did not cite any specific reasons in a letter to customers seen by S&P Global Platts on Tuesday, but Shell did add that the March 15 increases will be in addition to any previously announced increases for March.
Shell Chemical joins Dow Chemical, ExxonMobil Chemical, LyondellBasell and Monument Chemical as IPA suppliers with planned mid-March increases.
Dow Chemical, LyondellBasell and Monument Chemical plan to raise US IPA pricing by 5 cents/lb effective March 15, and ExxonMobil intends to increase pricing by 5 cents/lb effective March 11, the companies said in previous letters to customers.
The market has seen pressure from rising feedstock contract pricing and supply tightness, sources have said.
Supply has been described as tight throughout the year on discussions of production issues and preparations for planned turnarounds.
Feedstock chemical-grade propylene has also seen strength in the first weeks of the year, with February contracts settling late last week near a two-year high of 46.50 cents/lb, up 6.50 cents from January.