08 September 2009 17:07 [Source: ICIS news]
LONDON (ICIS news)--An initial European September acetone methyl methacrylate (MMA) contract has been agreed with an increase of €70/tonne ($100/tonne) from August, a major producer and consumer said on Tuesday.
The September acetone MMA contract was settled at €659/tonne FD (free delivered) NWE (northwest ?xml:namespace>
“I agreed at an increase of €70/tonne because August was such work. Settling [the August contract price] at an increase of €35/tonne was not fair because it gave the acetone people too much [of the August propylene] back,” confirmed the major acetone buyer.
The buyer added: “[The €93/tonne increase in] September propylene was a lot...the acetone producers wanted more, suggesting that if we take more [of the propylene cost] in September, they would give us something back in October. But we can’t do this because of MMA contracts.”
The acetone MMA contract price typically mirrors developments in the propylene contract, with supply and demand dynamics also playing an integral role.
($1 = €0.70)
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