15 August 2012 23:08 [Source: ICIS news]
HOUSTON (ICIS)--US acrylic acid and acrylate esters contract prices rolled over as anticipated for August from July, market participants said on Wednesday.
The rollover was based largely on flat July feedstock and weak market activity, sources said.
August contracts prices for glacial acrylic acid (GAA) are assessed by ICIS at 109-113 cents/lb ($2,403-2,491/tonne, €1,946-2018/tonne).
Some buyers said, however, that a recent drop in feedstock chemical-grade propylene (CGP) would probably open up price discussions for September.
Last week, August contracts for chemical-grade propylene (CGP), on which the price of acrylates is primarily based, fell by nearly 3% to 49.00 cents/lb, a 31-month low.
Market participants said that producers have plenty of spot material on hand and that supply-and-demand factors remain balanced.
($1 = €0.81)
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