30 April 2009 11:38 [Source: ICIS news]
LONDON (ICIS news)--An initial European May acetone methyl methacrylate (MMA) gross contract price was agreed up €30/tonne ($40/tonne) on higher propylene and a tighter supply situation, a major acetone producer and consumer said on Thursday.
The contract settled at €560/tonne FD (free delivered) NWE (northwest ?xml:namespace>
“The market is nervous about
“The contract is €560/tonne, up €30/tonne for me and it is very important because there is hardly any acetone in the market,” the major producer said. “We produce, we sell and we are now completely dry of acetone,” he added.
However, a flurry of export opportunities due to rising prices in Asia and the
“We can sell everything to
Another producer involved in the gross or pre-discounted contract MMA acetone settlement said it did not expect to come to an agreement until next week.
The acetone MMA contract price typically mirrors developments in the propylene contract price, although supply and demand dynamics also play an integral role.
($1 = €0.75)
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