24 August 2011 22:06 [Source: ICIS news]
“Markets are flush with supply,” a buyer said. “There is a huge amount of trader activity pushing glacial acrylic acid (GAA) and acrylates from all regions of the world.”
July contracts fell by 4 cents/lb, after June values settled flat from May.
May contracts rose by 5 cents/lb, capping nearly uninterrupted acrylates gains since January. Increases occurred steadily during that period except in March, when February feedstock chemical-grade propylene flattened on weaker spot propylene prices.
Propylene prices settled flat for August, portending flat to weaker September acrylates.
Coatings and adhesives demand has been higher compared with one year ago but was not as high as it was expected to be, partly as a result of a delayed
Producers have acknowledged softening interest, and a buyer said demand for some esters has been down by as much as 40% since June.
Major producers of acrylates in the US include Arkema, Dow Chemical and BASF.
($1 = €0.69)
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