27 March 2011 20:15 [Source: ICIS news]
SAN ANTONIO, Texas (ICIS)--At least three US methyl methacrylate (MMA) acetone barge contracts have settled for March at 59 cents/lb ($1,301/tonne, €923/tonne), a decrease of 1 cent/lb from February, but the final settlement could be split, a market participant said on Sunday.
One supplier is still looking for a higher number as refinery-grade propylene (RGP) prices have firmed, leaving negotiations stalled, a trader said on the sidelines of the International Petrochemical Conference (IPC).
The US large-buyer MMA acetone contract largely tracks feedstock propylene costs. However, supply and demand fundamentals also play an integral role.
Major acetone sellers involved in the MMA contract discussion include Shell, Georgia Gulf and INEOS. Major buyers include Evonik, Dow Chemical and Lucite.
Hosted by the National Petrochemical & Refiners Association (NPRA), the IPC continues through Tuesday.
($1 = €0.71)
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