14 January 2011 23:59 [Source: ICIS news]
LONDON (ICIS)--The European January acetone methyl methacrylate (MMA) contract price has settled at €875/tonne ($1,167/tonne), up by €72/tonne from December, as a result of higher feedstock costs and healthy demand, a major producer and a major consumer said on Friday.
The acetone MMA contract was settled on a free delivered (FD) northwest Europe (NWE) basis.
Reffering to the January acetone MMA settlement, the major producer involved said: “We agreed an increase but it was not the full propylene [increase]. Acetone in the south [of Europe] is still not long, and the market is strong and our demand at the moment is bigger than pre-crisis volumes.”
A major buyer involved in the settlement said: “I can confirm [the] €72/tonne [monthly increase]. It was not as high as propylene because the fundamentals of the phenol and acetone markets have not changed.”
Acetone is a by-product of phenol.
In the acetone spot market, prices were firming as a result of rising propylene prices. Acetone spot prices were assessed at €690-780/tonne, up by €30/tonne from the previous week's prices.
($1 = €0.75)
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