07 February 2005 15:09 [Source: ICIS news]
LONDON (CNI)--European first quarter polymethyl methacrylate (PMMA) contracts have settled at an increase of 7% or Euro150/tonne, CNI learned Monday.
Prices for the first quarter are now in a range of Euro2250-2550/tonne for standard grade material. Prices on the higher end of the range were unchanged.
Suppliers stressed that raw material costs had once again driven prices higher. However, a tight market situation and limited stocks at producer level had played a significant role in quarterly contract negotiations.
One producer commented that market fundamentals had allowed lower priced contracts to be brought into line with the majority of business. In some cases, increases of up to Euro200/tonne have been implemented, according to the source.
Demand for PMMA remains strong in the automotive and lighting sector. However, buying interest for sheet material for outdoor building applications has been described as disappointing, despite cold weather in parts of Europe.
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