22 September 2011 02:20 [Source: ICIS news]
Correction: In the ICIS story headlined “September acrylates settle flat on ample supply, soft demand” dated 22 September 2011, please read in the fifth paragraph … $1.41–1.46/lb … instead of $1.41–1.46/tonne …. A corrected story follows.
HOUSTON (ICIS)--US September acrylic acid and acrylate esters contract prices settled flat from August on continued soft demand and ample supply, market sources said on Wednesday.
“Our prices remain flat versus August,” a buyer said, “although there is plenty of supply. The only problem is, we don't need it. It has been slow for us. If this continues for the rest of the year, sellers are going to have to lower their prices to try and get rid of inventory.”
Although there were reports of some reductions of 3 cents/lb ($66/tonne, €48/tonne), a producer said only his higher-priced accounts saw declines while most customers saw no change in contract values.
A buyer also said he had seen similar decreases, but most market sources said pricing was stable in September from the previous month.
Contract values declined in July and August, but the September rollover holds glacial acrylic acid (GAA) at $1.41–1.46/lb, as assessed by ICIS.
Feedstock chemical-grade propylene (CGP) settled flat for August, and also helped stabilise September contracts, sources said.
Major producers of acrylates in the ?xml:namespace>
($1 = €0.73)
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