Intermediates news in brief

26 March 2012 00:00  [Source: ICB]

JAPAN'S MRC SEEKS $250/TONNE MMA HIKE
Japan's Mitsubishi Rayon Co. (MRC), Asia's largest methyl methacrylate (MMA) producer, announced late on March 19 a $250/tonne (€190/tonne) price increase for all bulk and iso-tank export MMA and methacrylic acid (MAA) cargoes, effective from next month. MRC is implementing a price increase of yen 20/kg ($240/tonne) for its domestic customers from April 1.

EU MARCH ACETIC ACID SHOWS LITTLE CHANGE
March acetic acid contract prices were assessed largely in the range of €370-410/tonne ($486-539/tonne) FD (free delivered) NWE (northwest Europe), representing increases of about €10/tonne. First-quarter contract prices were assessed by ICIS last week at €400-450/tonne FD NWE.

EU EO UP BY €71/TONNE
European March ethylene oxide (EO) contracts were assessed up by €71/tonne ($93/tonne) at €1,385-1,552/tonne FD (free delivered) NWE (northwest Europe) and €1,425-1,582/tonne FD MED (Mediterranean). The hikes are based on the €86/tonne hike in the March ethylene contract, as ethylene is the principal feedstock for EO.

EU MARCH VAM RISES TO €850-910/TONNE
The bulk of March vinyl acetate monomer (VAM) contract prices were agreed at €850-910/tonne ($1,118-1,197/tonne) free delivered (FD) northwest Europe (NWE), an increase of €20-30/tonne from February.

EU PO RISES FOR THIRD MONTH ON COSTS
Rising propylene feedstock costs continue to push up European propylene oxide (PO) prices into March. ICIS assessed prices in the range of €1,590-1,700/tonne FD (free delivered) NWE (Northwest Europe).


By: Clay Boswell
+1 713 525 2653



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