04 September 2012 15:32 [Source: ICIS news]
LONDON (ICIS)--The September European acetone methyl methacrylate (MMA) contract price has been agreed at an increase of €82/tonne from August because of higher propylene costs, market sources said on Tuesday.
The price was agreed at €950/tonne ($1,203/tonne) FD (free delivered) NWE (northwest Europe).
A major producer said that it had different views in terms of supply and demand with its customers.
“Phenol demand is low and therefore [phenol and acetone] production has been reduced,” the producer said. "Phenol is in low demand, but acetone demand in ?xml:namespace>
The producer described acetone in
Meanwhile, a major buyer saw the purported market tightness to be artificially created because of weak phenol demand and not because demand for acetone was strong.
“I have accepted €950/tonne,” said a major consumer.
“I could agree to a raw material adjustment, but no more.”
The September propylene contract price settled at €1,160/tonne FD NWE, up by €105/tonne from August.
($1 = €0.79)
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