01 November 2012 17:38 [Source: ICIS news]
LONDON (ICIS)--The European November acetone methyl methacrylate (MMA) contract price has been agreed at €910/tonne ($1,182/tonne) FD (free delivered) NWE (northwest Europe), a decrease of €20/tonne from October on the back of a drop in feedstock propylene, market sources confirmed on Thursday.
The November propylene contract price settled at €1,120/tonne FD NWE, also down by €20/tonne from October. This represented a decrease of €16/tonne in acetone production costs.
A major acetone producer said: “Usually the contract price has followed the change in propylene. But the price came down a little because the market is not so strong at the moment and we are moving towards the end of the year.”
Despite reports of tight availability caused by cutbacks in phenol production, acetone buyers have experienced no problems securing the acetone.
“Acetone is starting to get a little long,” a major buyer said.
($1 = €0.77)
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