Initial Europe May acetone MMA contract agreed up €31/tonne

30 April 2010 14:36  [Source: ICIS news]

LONDON (ICIS news)--An initial May acetone methyl methacrylate (MMA) contract has been agreed at €852/tonne ($1,121/tonne), up €31/tonne from April, a major contract buyer and seller said on Friday.

“I can confirm the May price at €852.4/tonne,” the major buyer confirmed.

The euro figure goes to one decimal place because the contract parties typically settle on a gross basis. This is then published as a net price.

The major producer said that owing to the tight supply situation in Europe its May contract offer was a matter of “take-it-or-leave-it”.

“If my customer does not agree I will not sell acetone. It will not be an increase of €20/tonne, the new net number is €852.4/tonne,” the producer said.

The May net acetone MMA contract price settled on FD (free delivered) NWE (northwest Europe) basis, according to data from global chemical market intelligence service ICIS pricing.

The acetone MMA contract price is largely based on propylene price developments but supply and demand dynamics also play a roll in negotiations.

The May propylene contract was agreed at an increase of €20/tonne at €1,000/tonne FD NWE.

Meanwhile, the acetone market has been plagued by production issues and shutdowns.

($1 = €0.76)

For more on acetone visit ICIS chemical intelligence  

To discuss issues facing the chemical industry go to ICIS connect

By: Julia Meehan
+44 20 8652 3214

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