27 July 2011 21:15 [Source: ICIS news]
HOUSTON (ICIS)--US acrylic acid and acrylate esters prices slipped by an average of 4 cents/lb ($88/tonne, €61/tonne) for July as weaker feedstock propylene prices and softer demand prevailed, sources confirmed on Wednesday.
The decline took glacial acrylic acid (GAA) down to a new range of $1.46–1.51/tonne, as assessed by ICIS. June contracts settled flat from May.
Sources on both sides of the market said declines mostly ranged from 3–5 cents/lb. Reductions as large as 10 cents/lb were heard, but considered anectodal.
“I think markets are soft,” a buyer said, “although the suppliers don't like to talk about it.”
“Everyone I have talked to is indicating sharp volume reductions,” another buyer said. “Producers I have spoken with indicate butyl acrylate [butyl-A] and 2-ethylhexyl acrylate [2-EHA] volumes are down by 40%,” he added. “I think the bottom could fall out of this market.”
($1 = €0.69)
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