US February acrylates prices flat, March hike expected

29 February 2012 22:50  [Source: ICIS news]

HOUSTON (ICIS)--US February acrylic acid and acrylate esters contracts settled flat from January on ample supply and middling demand, market sources said on Wednesday.

February pricing rolled over at $1.121.17/lb ($2,4692579/tonne, €1,8271,909/tonne), as assessed by ICIS.

Despite February price-hike initiatives of 1014 cents/lb from one producer, there was a consensus among market participants that increases have not been broadly implemented in February.

However, March increases are anticipated on the sharp rise in February feedstock chemical-grade propylene (CGP) and the strength of 1012 cent/lb acrylates price-hike initiatives from two US producers.

CGP jumped by 30% to reach 71 cents/lb for February, prompting the large March acrylates initiatives.

US acrylates producers include Dow Chemical, BASF and Arkema.

($1 = €0.74)

By: Larry Terry
1 713 525 2653

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