NewsFlashUS July MMA acetone settles at 70 cts

31 July 2008 17:47  [Source: ICIS news]

HOUSTON (ICIS news)--The US July acetone contract settled at 70 cents/lb ($1,543/tonne, €988/tonne) for large-buyer methyl methacrylate (MMA) producers, the first monthly settlement of its kind, buyers and sellers confirmed on Thursday.

The monthly marker is negotiated between one major buyer and two major sellers and accounts for at least 40% of the volume of acetone sold in the US.

Third-quarter negotiations continued with no settlement yet available. Producers have nominated hikes of more than 20 cents/lb.

The second-quarter contract previously settled up by 6 cents/lb at 53.5 cents/lb, according to data from global chemical market intelligence service ICIS pricing.

Acetone sellers include INEOS Phenol, Shell, Dow Chemical, Sunoco and Georgia Gulf.

Rohm and Haas, Lucite and Evonik are among the large buyers.

($1 = €0.64)

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By: Heather McGuire Doyle
+1 713 525 2653

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