18 January 2012 23:59 [Source: ICIS news]
LONDON (ICIS)--January prices for European acrylic acid (AA) and acrylate esters were largely stable from the previous month, although some grades saw a slight reduction.
AA prices in January were assessed at €1,780–1,840/tonne ($2,280-2,357/tonne) FD (free delivered) NWE (northwest Europe), steady from the previous month.
Methyl acrylate (Methyl-A) prices were assessed at €1,740–1,820/tonne FD NWE, unchanged from December.
Ethyl acrylate (Ethyl-A) prices were assessed at €1,795–1,850/tonne, also steady from the previous month.
Butyl acrylate (Butyl-A) prices were assessed at €1,780–1,870/tonne, a reduction of €10/tonne at the low end, while 2-ethylhexyl acrylate (2-EHA) numbers were assessed at €1,970–2,125/tonne, unchanged from December.
“I am not seeing lower levels than December and the overall perception is that the price trend is upwards as of February,” said one major supplier on Wednesday.
Another major European producer also confirmed it had agreed January contracts at a rollover, adding that it was “disappointed” that it did not secure any increases this month.
“Demand is certainly there this month, but the test will be to see if this continues into February,” the producer explained.
Another major buyer, who also agreed a rollover, said demand this month was largely due to restocking, but that higher propylene costs in February would impact acrylates pricing.
Although there were some aggressive offers for spot material heard in January, players believed that the volumes involved were minimal and therefore not representative of the market as a whole.
“Although we also hear some low quotations we realised that once you want to buy at this level there is no more cargo available,” said one trader.
“It might be possible that some positions on Butyl-A and 2-EHA have been cleared at low prices in January but in general the tendency is going in the other direction.”
($1 = €0.79)
For more on acrylic acid and acrylate esters visit ICIS chemical intelligence
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