Corrected: US Feb acrylates rise 8 cents/lb on tight supply, feedstocks

03 March 2011 00:09  [Source: ICIS news]

Correction: In the ICIS story headlined “US Feb acrylates rise 8 cents/lb on tight supply, feedstocks” dated 3 March 2011, please read in the third paragraph … to a range of $1.38-1.43/lb … instead of … $1.38-1.43/tonne …. A corrected story follows.

HOUSTON (ICIS)--US acrylic acid and acrylate esters contracts for February were assessed up by 8 cents/lb ($176/tonne, €128/tonne) because of continued tight supply and January feedstock pressure, sources said on Wednesday.

February acrylates increase initiatives ranged from 6-12 cents/lb, but settlements moderated, bringing gains over the two-month period to about 16 cents/lb, most sources confirmed.

The increase took February glacial acrylic acid (GAA) to a range of $1.38-1.43/lb as assessed by ICIS, from a range of $1.30-1.35/lb in January.

While sharp gains in January feedstock chemical-grade propylene (CGP) helped propel the February initiatives to easy passage, momentum has ended for now, sources said.

Although tight acrylates supply prevails, there were no March price-hike proposals, and initial CGP settlements were heard at 71.0 cents/lb, down from 74.0 cents/lb in February.

US acrylates producers include Dow Chemical, BASF and Arkema.

($1 = €0.73)

For more on acrylic acid and acrylate esters visit ICIS Chemical Intelligence
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