30 June 2011 17:28 [Source: ICIS news]
PORVOO, FINLAND (ICIS)—The European July acetone methyl methacrylate (MMA) contract price has settled at €934/tonne ($1,354), down €64/tonne from June, on the back of lower propylene costs and improved availability, a major producer and a major consumer confirmed on Thursday.
The acetone MMA contract was settled on a free delivered (FD) northwest Europe (NWE) basis.
The buyer said: “The [reduction to] €934/tonne for July will be higher than just the propylene-related decrease because of changing market conditions.”
The contract price is typically agreed on a gross basis, and then calculated to a net basis for publication purposes.
In relation to the July settlement, the producer said: “MMA July settled at €934/tonne.
“[Propylene] has come down €75/tonne; thus MMA has come down with a bit more. Acetone availability in ?xml:namespace>
The producer stressed that only “a few customers” can buy imported material as a result of storage capacity and transportation costs, adding that demand in
A major buyer reacted to the July contract price by saying it was “too high”.
In the acetone spot market, prices have come under pressure as supply has improved following various outage and production problems caused by cumene availability issues during the first and second quarters.
Spot acetone in
When the European market was at its tightest during CEPSA’s shutdown in
While demand from major derivatives MMA and bisphenol A (BPA) remains steady to strong, a notable dip in demand had been seen in the solvents sector. In addition, European production is now running normally.
($1 = €0.69)
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