US October MMA contract waiting on barge acetone settlement

21 October 2011 16:50  [Source: ICIS news]

HOUSTON (ICIS)--The US October contract settlement for methyl methacrylate (MMA) remains in the air, as several large market players wait for feedstock acetone to settle, sources said on Friday.

A major MMA producer said it is waiting for the October barge acetone contract price – which is settled between the biggest acetone buyers and sellers – to settle before it nominates its October MMA contract price.

“We’re waiting to see what raw materials do in the next few weeks,” the MMA producer said.

The US October barge acetone contract price is expected to fall, but how steep a fall remains under discussion.

Another MMA producer said it already reached a settlement for October MMA, at $1.25–1.30/lb ($2,756–2,866/tonne, €2,012–2,092/tonne) FD railcar (free delivered via railcar).

This represents a fall of 5 cents/lb from the September level, as assessed by ICIS.

Several MMA buyers confirmed that some settlements have been reached, but a full market agreement is still pending.

Major US MMA producers include Dow Chemical, Evonik and Lucite.

($1 = €0.73)

For more on MMA visit ICIS chemical intelligence

By: John Dietrich

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