Europe July acetone MMA down €136/tonne on falling propylene

03 July 2012 11:57  [Source: ICIS news]

LONDON (ICIS)--The July European acetone methyl methacrylate (MMA) contract price has been agreed down by €136/tonne from the previous month, following the €170/tonne drop in July propylene, market sources said on Tuesday.

The July acetone MMA settlement was agreed at €778/tonne ($985/tonne) on a free delivered (FD) northwest Europe (NWE) basis. A major supplier of acetone in Europe said contract negotiations had been “very difficult”.

Producers and consumers' interpretations of the balance of the European acetone market were quite different and this had resulted in a tough round of contract price discussions.

One producer said: “Uncertainty about the length of the market has made negotiations very difficult this month. Uncertainty about how long and tight the market really is caused different views.”

The producer said its demand was good and failed to see the length in the market that buyers were talking about.

Meanwhile, a major consumer confirmed that it agreed its acetone MMA contract price for July at €778/tonne FD NWE.

The buyer said that although it did not share the view of its suppliers in terms of the balance of acetone in Europe it “reluctantly” accepted the July contract price.

($1 = €0.79)


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

ICIS news FREE TRIAL
Get access to breaking chemical news as it happens.
ICIS Global Petrochemical Index (IPEX)
ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index