Europe Feb acetone MMA up by €72/tonne on higher propylene

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”.

However, producers view the market as tight and they expect it to tighten further when CEPSA Quimica and INEOS Phenol go into planned outages.

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)

By: Julia Meehan
+44 20 8652 3214

AddThis Social Bookmark Button

For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.

Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.

Printer Friendly