05 January 2012 15:41 [Source: ICIS news]
HOUSTON (ICIS)--US December contract prices for acrylic acid and acrylate esters declined substantially from November on weaker demand, ample supplies and a drop in feedstock values, market sources confirmed on Thursday.
The traditional December lull in trading only exacerbated already poor market conditions, a trader said.
Contract prices fell by around 10 cents/lb ($220/tonne, €169/tonne) across the board through the month of December bringing butyl acrylate (butyl-A) down to 108 cents/lb DEL (delivered), as assessed by ICIS.
The December decline follows a drop in November’s posted contract prices, which fell by 9 cents/lb from October.
Export values also declined through December. Traders said the export price of glacial acrylic acid (GAA) had dropped to $1,786/tonne FOB (free on board) USG (US Gulf), down from $1,851/tonne at the start of the month.
Chinese demand is suffering from the effect of a softening property market, as acrylic acid and acrylate esters are heavily used in the production of construction materials.
US producers of acrylates include Dow Chemical, Arkema and BASF.
($1 = €0.77)
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