10 October 2012 23:59 [Source: ICIS news]
LONDON (ICIS)--European October contract prices for acrylic acid (AA) and acrylate esters have been assessed at a rollover, sources said on Wednesday, despite a €20/tonne ($26/tonne) decrease for feedstock propylene this month, as demand from key end-use sectors remains softer than expected.
There were some small increases reported on a handful of contracts, but these were not considered representative of the wider market.
AA contracts for October were settled at €1,850-1,890/tonne FD (free delivered) NWE (northwest Europe). Methyl acrylate (methyl-A) prices were assessed this month at €1,820-1,890/tonne FD NWE.
Ethyl acrylate (ethyl-A) October contract prices are steady at €1,900-1,940/tonne FD NWE. Butyl acrylate (butyl-A) prices are also unchanged at €1,840-1,890/tonne FD NWE, while prices for 2-ethylhexyl acrylate (2-EHA) were assessed at €2,130-2,170/tonne.
One buyer said that there had been some bullishness from suppliers following the explosion at Japanese company Nippon Shokubai’s Himeji facility earlier this month, which saw the company’s AA and super absorbent polymer (SAP) facilities shut down, but added that spot availability remains good in Europe.
While sellers are keen to regain margins that have eroded throughout 2012, continued macroeconomic bearishness meant that some stability was nonetheless welcomed in the acrylates market.
($1 = €0.78)
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