01 February 2012 15:31 [Source: ICIS news]
LONDON (ICIS)--The European February acetone methyl methacrylate (MMA) contract price has settled at €898/tonne ($1,182/tonne), up by €72/tonne from January, following the increase in the propylene contract, a major producer and consumer said on Wednesday.
The acetone market had been expecting the increase following the hike in the cost of propylene, but producer and consumer ideas about acetone supply are somewhat different.
Indeed, the major consumer involved in the contract settlement, which was agreed on a free delivered (FD) northwest Europe (NWE) basis, described the European acetone market as “balanced”.
Although contracts are being honoured, there is not so much spot acetone available in the market and volumes continue to move out of the region for export to Asia.
Spot acetone prices so far this week are in the mid-€800s/tonne FD NWE, up by €100/tonne from the mid-€700s/tonne recorded last week.
($1 = €0.76)
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