27 March 2013 16:47 [Source: ICIS news]
LONDON (ICIS)--An acrylate esters buyer in Europe said on Wednesday it is "convinced" that April contract prices in the sector will go down.
“Demand is low. I also expect to see lower spot prices in April. I’m quite convinced that prices will go down.”
Buyers said availability is good, but said April demand is not picking up.
Cold weather and ongoing concerns about the troubled eurozone economy have hampered consumption levels and slowed building projects.
“Snow has halted the building industry,” one producer said.
Producers are looking to regain or, at least, sustain margins that are being squeezed. Another producer said it needs to get its prices up, but added that demand is not great.
Another buyer said: “There could be some demand improvement in May and June, but for April it is not picking up.”
Negotiations will take place over the next two to three weeks.
Acrylic acid and its esters readily combine with themselves or other monomers, forming homopolymers or copolymers that are used in the manufacture of various plastics, coatings, adhesives, elastomers, floor polishes and paints.
($1 = €0.78)
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