US November MMA acetone settles at 41.25 cents/lb

22 November 2010 22:56  [Source: ICIS news]

HOUSTON (ICIS)--The November US methyl methacrylate (MMA) acetone contract was agreed upon at 41.25 cents/lb ($909/tonne, €664/tonne), compared with October's split settlement of 40.00 cents/lb and 42.50/lb, sources said on Monday.

A seasonal slowdown in the US was largely offset by exports to Asia, contributing to the November settlement at the middle of the rare October split settlement.

Because demand in Asia presented arbitrage opportunities for domestic supply holders, acetone was being bundled with co-product phenol, keeping supply in the US snug, the trader said.

Major acetone sellers involved in the MMA contract discussion include Shell, Georgia Gulf and INEOS. Major buyers include Evonik, Dow Chemical and Lucite. 

($1 = €0.73)

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By: Gene Lockard
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