US July acrylates prices fall by 10 cents/lb on soft fundamentals

25 July 2012 22:25  [Source: ICIS news]

HOUSTON (ICIS)--US acrylic acid and acrylate esters contract values for July fell by an average of 10 cents/lb ($220/tonne, €183/tonne) on soft market fundamentals including pressure from imports, ample supply and weaker feedstock, sources said on Wednesday.

The reduction takes the glacial acrylic acid (GAA) contract range down to $1.09-1.13/lb, as assessed by ICIS. June contracts previously declined by 7-8 cents/lb on similar conditions.

“GAA and butyl acrylate (butyl-A) are seeing import pressure, so that is keeping prices lower,” a producer said, but there is some demand. Our 9-10 cents/lb [decrease] is mostly [feedstock] propylene, which is the most important factor.”

June chemical-grade propylene (CGP), on which the July acrylates price is primarily based, fell by 15.50 cent/lb to 30-month low of 50.50 cents/lb.
Although buyers reported reductions in a range of 8-12 cents/lb, decreases in the mid-range were most broadly heard.

“There's plenty of material out there,” a buyer said. “There are no supply issues, and we are running steady here.”

($1 = €0.83)

By: Larry Terry
1 713 525 2653

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