Europe July acetone MMA contract up €64/tonne at €554/tonne

24 July 2009 12:20  [Source: ICIS news]

LONDON (ICIS news)--The European July acetone methyl methacrylate (MMA) contract has been agreed at an increase of €64/tonne ($91/tonne) from June, major producers and consumers confirmed on Friday.

The July acetone MMA contract settled at €554/tonne FD (free delivered) NWE (northwest Europe), producers and consumers said.

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.

News of an initial European propylene settlement for August, which was up €35/tonne from July, was received with mixed reviews from the acetone community.

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)

For more on MMA and PMMA visit ICIS chemical intelligence
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By: Julia Meehan
+44 20 8652 3214

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