21 March 2012 19:38 [Source: ICIS news]
HOUSTON (ICIS)--US acrylic acid and acrylate esters contracts for March rose by 10-12 cents/lb ($220-265/tonne, €168-201/tonne) largely as a result of higher feedstock costs, sources said on Wednesday.
Buyers acknowledged cost pressure from propylene, but most said the sharply higher pricing will be difficult to pass along to their customers.
Some of the acrylate esters rose by 10 cents/lb, while glacial acrylic acid was assessed up by 12 cents/lb. The increase takes acrylic acid contracts for March to $1.24-$1.29/lb, as assessed by ICIS.
Customers have described demand as essentially flat from one year ago, and opinions about spring coatings season demand range from soft to marginally improved over last year.
March propylene prices have risen by just 5% from February, and has prompted April acrylates price initiatives of plus 5-10 cents/lb.
US acrylates producers include Dow Chemical, Arkema and BASF.
($1 = €0.76)
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