Europe March acrylate esters contracts settle

13 March 2013 23:59  [Source: ICIS news]

LONDON (ICIS)--European acrylate esters March contract prices have rolled over and increased from the previous month on the back of the upstream propylene increase, sources said on Wednesday.

The March European propylene contract price moved up by €55/tonne ($71/tonne) from February, and gave support to producers’ targets to raise acrylates prices to improve margins in a balanced-to-long market.

Demand is weaker than most sources had expected. Offtake typically picks up in March, as activities in the construction and coatings sectors ramp up, but poor macroeconomic conditions have slowed consumption.

“Demand is not as it should be or where it should be, and the construction industry is slow,” a buyer said. “I tried for a decrease but I've been settling at a €10/tonne increase. March is not going to pick up, the weather is terrible, the spot market is very slow.”

Players said it was not clear whether demand would pick up significantly in April. Sellers are optimistic, however, that any hikes that were unachievable in March, will be pushed through next month.

April usually signifies the start of the coatings season.

Methyl acrylate (methyl-A) prices are at €1,810-1,860/tonne FD NWE, while ethyl acrylate (ethyl-A) March contract prices are at €1,910-1,920/tonne FD NWE, up by €20/tonne on the low end.

March butyl acrylate (butyl-A) contracts moved up by €10/tonne on the low end at €1,830-1,860/tonne FD NWE, and 2-ethyl hexyl acrylate (2-EHA) contract prices have settled at €2,110-2,140/tonne.

($1 = €0.77)

By: Helena Strathearn
+44 208 652 3214

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