18 July 2012 23:59 [Source: ICIS news]
LONDON (ICIS)--European July acrylic acid (AA) and acrylate esters contract prices have decreased on lower feedstock costs, good availability, lower demand and market uncertainty amid global economic instability, sources said on Wednesday.
July AA prices have been assessed at €1,760-1,790/tonne ($2,173-2,210/tonne) FD (free delivered) NWE (northwest Europe), down by €120/tonne from the previous month. Spot is selling at €1,450-1,550/tonne FD NWE.
Methyl acrylate (Methyl-A) prices for July are assessed at €1,750-1,800/tonne FD NWE, down by €80-100/tonne from June. Spot is at €1,650-1,690/tonne FD NWE.
Ethyl acrylate (Ethyl-A) July prices are at €1,810-1,850/tonne, a decrease of €110/tonne, while Ethyl-A spot is at €1,490-1,530/tonne FD NWE.
Butyl acrylate (Butyl-A) prices have moved down to €1,760-1,790/tonne FD NWE, a €120-160/tonne decrease from June, while spot is trading at €1,420-1,510/tonne FD NWE. Prices for 2-ethylhexyl acrylate (2-EHA) are assessed at €2,050-2,150/tonne, down by €100-130/tonne, and 2-EHA spot is at €1,700-1,800/tonne FD NWE.
The €170/tonne decrease in feedstock propylene has impacted July prices in the AA and acrylate esters market. The spot market is active, as sellers look to get rid of stock. Buyers expect prices to remain attractive for the next few weeks.
Demand is lower than it was at the same time last year when offtake was particularly healthy, but orders are coming in. One producer said: “Volumes continue to be okay as we go into the summer months; [demand is] neither overly exciting nor overly bad. The demand now represents the true activity in the market.”
Market participants expect August AA and acrylate esters contract prices to roll over or decrease slightly.
($1 = €0.81)
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