01 February 2013 09:09 [Source: ICIS news]
BRISBANE (ICIS)--Japan’s Mitsubishi Rayon Co (MRC), the biggest producer of methyl methacrylate (MMA) in Asia, has raised its prices in the domestic market in a bid to offset rising feedstock costs, a company source said on Friday.
MRC has announced to clients that its domestic pricesof MMA would increase by Japanese yen (Y) 20/kg ($0.22/kg), or Y20,000/tonne, for shipments of MMA and methacrylic acid (MAA) from 16 February, the source said.
“The measure is necessary due to additional price increases in upstream costs such as naphtha," the company source said.
Domestic MMA prices in Japan are currently hovering at mid-to-high Y200/kg levels on a delivered (DEL) basis, market sources said.
Meanwhile, Japanese producer Asahi Kasei Corp have also increased their domestic MMA price nomination by Y22/kg effective from 21 February due to the hike in feedstock costs.
Other Japanese MMA producers are likely to follow suit, market sources said.
MMA is used to produce PMMA polymer, cast sheets and acrylic resins for coatings and emulsions.
($1 = Y91.4)
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