01 April 2011 10:51 [Source: ICIS news]
LONDON (ICIS)--The European April acetone methyl methacrylate (MMA) contract price has settled at €991/tonne ($1,416/tonne), up €24/tonne from March, because of the increase in this month's propylene contract price and the current tight supply situation in Europe, a major producer and consumer said on Friday.
The acetone MMA contract was settled on a free delivered (FD) northwest Europe (NWE) basis.
“I can confirm the €991/tonne. Acetone seems to be short because one large producer does not get enough cumene while another one is still in a turnaround,” said the major consumer.
The major consumer said that its demand is stable but added it had “heard rumours” that demand for polycarbonate (PC) was “a bit lower than expected”.
PC, a derivative of bisphenol A (BPA), is a global driver for the production of phenol and subsequently determines acetone output, since acetone is a byproduct of phenol.
The major producer said that the April acetone MMA contract price settled at an increase of €30/tonne on a gross basis, and added that on a net basis the April contract price was €991/tonne.
“The MMA market is enjoying a good time and we have been pushing for increases [in the contract price] since the beginning of the year,” the producer said.
Meanwhile, spot prices in Europe continue to increase, exceeding record levels because of production restrictions, high feedstock costs and strong demand.
A European producer said that it sold acetone into northern Italy at a record €1,400/tonne FD (free delivered) this week.
($1 = €0.70)
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