18 January 2013 20:54 [Source: ICIS news]
HOUSTON (ICIS)--US January contract prices for methyl methacrylate (MMA) settled at a rollover, sources confirmed on Friday.
Buyers and sellers agreed that January monthly contracts were done at rollovers in almost all cases.
“We rolled over with all our suppliers,” a buyer said. “The volumes moving aren’t enough to justify an increase.”
This put ICIS-assessed January prices at $1.12-1.17/lb ($2,469-2,579/tonne, €1,852-1,935/tonne) FD railcar (free delivered via railcar), flat with December’s assessment.
Producers agreed, but cited steady feedstock costs from acetone as the main reason for the rollover.
“Demand has been fairly steady year on year,” a producer said. “And feedstocks were flat.”
Some buyers added that supply on the market is long, but close to balanced.
“The producers ended 2012 with bigger inventories than they did in 2011,” a buyer said. “So there’s no lack of material.”
Sources said that there are no upstream supply issues affecting the MMA market, so supply will likely outpace demand until the US coatings season kicks in.
Major US MMA producers include Dow Chemical, Evonik and Lucite.
($1 = €0.75)
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