US MMA sellers revise Q3 nominations

23 June 2008 18:56  [Source: ICIS news]

HOUSTON (ICIS news)--Unprecedented increases in feedstock acetone drove US methyl methacrylate (MMA) sellers to alter third-quarter announcements on Monday.

Lucite said it would invoke a 5 cents/lb ($110/tonne, €70/tonne) additive temporary voluntary allowance (TVA) effective on 1 July to offset a portion of the recent cost escalations. The addition of the TVAs brings Lucite’s third-quarter MMA nomination to 15 cents/lb.

Arkema revised its third-quarter nomination from 8 cents/lb to 15 cents/lb.

Evonik’s third-quarter initiative remained unchanged on Monday. Its increase is for 17 cents/lb with a 5 cent TVA, making the net increase 12 cents/lb, buyers said.

Rohm and Haas has not issued a third-quarter increase as of Monday, buyers said.

An MMA seller said the changes were brought on because acetone has settled higher than anticipated, and acetone sellers recently announced record hikes for the third quarter of more than 20 cents/lb.

Contract prices for second-quarter MMA contracts are 95-97 cents/lb delivered railcar, according to data from global chemical market intelligence service ICIS pricing.

($1 = €0.64)

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By: Heather McGuire Doyle
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