15 February 2013 20:20 [Source: ICIS news]
HOUSTON (ICIS)--US February methyl methacrylate (MMA) moved higher on increasing upstream costs, sources said on Friday.
US February MMA contracts were assessed by ICIS at $1.15-1.19/lb ($2,535-2,623/tonne, €1,901-1,967) on an FD railcar (free delivered via railcar) basis.
January contracts were assessed by ICIS at $1.12-1.17/lb FD railcar.
However, buyers and sellers confirmed that prices increased by 9-10 cents/lb in February from January.
Sources said that February prices post-increase moved to within the ICIS range.
“Prices can be all over the place, but most are just less than $1.20/lb,” a producer said. “And the settlements are coming in at about plus-9.”
Buyers were mixed about the movement, but agreed that February pricing is within the posted range.
“We are not going to see $1.20 MMA in February,” a buyer said. “We don’t see all of the nominations sticking either.”
For February, Dow Chemical nominated an increase of 6 cents/lb, Lucite nominated an increase of 11 cents/lb and Evonik nominated an increase of 12 cents/lb.
The bulk of the nominations came because feedstock acetone contracts increased by 13.5 cents/lb in January and are set for another increase in February.
Sources said demand is steady to slightly improving, mostly from the coatings market for home remodeling.
($1 = €0.74)
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