31 January 2011 10:40 [Source: ICIS news]
LONDON (ICIS)--The European polymethyl methacrylate (PMMA) first quarter gross contract price for standard grade resins settled at €3.08-3.13/kg ($4.16-4.23/kg), an increase of €0.10/kg (€100/tonne) on the low end, owing to firm feedstock costs and healthy demand, market sources said late on Friday.
“Most of our contracts settled at increases of €100/tonne,” a supplier said.
Contracts settled as low as €2.50/kg and as high as €3.00/kg on a free delivered (FD) northwest Europe (NWE) basis.
The majority of net contracts were settled at €2.80-2.90/kg FD NWE. However, as settlements either rolled over or increased, the range remained unchanged on the high end.
“We settled at €2.55-2.60/kg for five tonne lots and at €2.80/kg for one to two tonne lots,” the supplier said.
“However, €3.00/kg wouldn’t be outrageous for standard grade,” the supplier added.
Another supplier said: “We have had increases of €100/tonne and anything up to €200/tonne increases for January, depending on the customer.”
Increases at this level were not confirmed elsewhere in the market. Most contracts rolled over or increased by €0.10/kg.
Another producer said it had increased its contracts by €0.15/kg because of the tightness of the polymer.
The rise in the costs of feedstocks methanol, acetone and ammonia were causing concern up and down the industry. First-quarter methanol contracts went up by €38/tonne, the January acetone MMA contract price settled up by €72/tonne from December and the cost of ammonia continued to rise.
PMMA is a transparent thermoplastic, often used as a light or shatter-resistant alternative to glass. It is sometimes called acrylic glass. Chemically, it is the synthetic polymer of methyl methacrylate.
($1 = €0.74)
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