30 April 2010 23:59 [Source: ICIS news]
LONDON(ICIS news)--The second-quarter European polymethyl methacrylate (PMMA) contract has increased by €0.13/kg ($0.17/kg) from the previous quarter as a result of improved demand, higher feedstock costs and a lack of competitively priced imports, market sources said on Friday.
A major producer confirmed that it had increased its price by €0.13/kg and said that demand was increasing.
“We are seeing increases on sheets going through and forward orders of two to three months, because [the customers] are concerned about availability...it is very unusual for shortages everywhere,” said the producer.
According to data from global chemical market intelligence service ICIS pricing, the discounted second-quarter contract price was agreed at €2.73-2.88/kg FD (free delivered) NWE (northwest ?xml:namespace>
In a company statement, Evonik said that it was forced to reduce its PMMA output to “substantially reduced rates.”
The pre-discounted first-quarter PMMA contract price was agreed at €2.60-2.75/kg FD NWE.
($1 = €0.76)
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