17 February 2012 17:21 [Source: ICIS news]
HOUSTON (ICIS)--US February contracts for methyl methacrylate (MMA) settled at a rollover, sources said on Friday, while March contracts are poised for an increase.
Dow Chemical and Lucite each have price-increase nominations for 1 March on the back of anticipated higher feedstock costs.
Dow has announced an 8 cent/lb ($176/tonne, €134/tonne) price-increase nomination, and Lucite announced a 12 cent/lb price-increase nomination.
No nominations have been heard from Evonik, but buyers expect it to fall between the Dow and Lucite nominations.
Producers said the March nominations are mostly fuelled by an expected increase in feedstock February barge acetone.
No nominations have been heard, but sources expect a number in the high 50s or low 60s cents/lb range. The January settlement was done at 43 cents/lb DEL barges (delivered via barges).
US MMA buyers said they expect the majority of March contract price-increase nominations to stick, as demand is improving slightly and prices are at a reasonable level at the moment.
Major US MMA producers include Dow, Evonik and Lucite.
($1 = €0.76)
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