24 July 2009 12:20 [Source: ICIS news]
The July acetone MMA contract settled at €554/tonne FD (free delivered) NWE (northwest ?xml:namespace>
The first settlement was confirmed on 17 July, with the second settlement verified by the contract partners on 21 July.
Producers were originally targeting an increase of €85/tonne – the full hike in the July propylene contract – but said that owing to the competitive field of the MMA market, €64/tonne was agreed.
The two major consumers echoed this sentiment.
An acetone producer said: “I was expecting more than €35/tonne…we thought it would be €50-100/tonne.”
A major acetone MMA buyer, however, said that it was hoping for a rollover of the July propylene contract price into August.
“Propylene’s up another €35/tonne and this poses a challenge for us in August,” said the buyer.
($1 = €0.70)
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