28 March 2013 15:15 [Source: ICIS news]
LONDON (ICIS)--UK-based polymethyl methacrylate (PMMA) producer Lucite International will target a 6% price rise for its cast and extruded sheet products, because of high feedstock methyl methacrylate (MMA) costs, a source from the company said on Thursday.
“Our Perspex sheet customers will have a 6% increase on material from 1 May,” the source said. “The price target is being driven by the increased costs of MMA. It’s very much cost-driven.”
The 30,000 tonne/year PMMA producer is seeking a €120/tonne ($154/tonne) price hike for its PMMA resins on the back of increased production costs and to regain margin following recent price falls.
“In reality we've needed increases for a long time but the market hasn't had the appetite for it,” the source added.
Demand for PMMA in Europe is steady at a low level.
PMMA prices have been falling since the third quarter last year on poor demand and oversupply, as consumer confidence has been sapped by eurozone debt concerns.
European PMMA first quarter contracts fell by €0.10-0.20/kg from the previous quarter on poor demand in a well-supplied market.
The company’s PMMA plant is located in Rozenburg, in the Netherlands.
($1 = €0.78)
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