10 September 2009 16:51 [Source: ICIS news]
LONDON (ICIS news)--The European September acetone methyl methacrylate (MMA) contract has been agreed at an increase of €70/tonne ($101/tonne) from August, major buyers and sellers confirmed on Thursday.
The September acetone MMA contract was settled at €659/tonne FD (free delivered) NWE (northwest ?xml:namespace>
A major buyer said: “I have settled September at €70/tonne. The agreement was based on the current supply situation and a compromise between producers’ and consumers’ views on the proportion of increase after propylene had been settled at plus €93/tonne.”
The settlement followed news on an initial acetone MMA settlement on 8 September between contract partners.
The acetone MMA contract price typically mirrors developments in the propylene contract, with supply and demand dynamics also playing an integral role.
($1 = €0.69)
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