10 April 2013 19:20 [Source: ICIS news]
LONDON (ICIS)--April acrylic acid (AA) and acrylate esters prices are expected to largely rollover, sources said on Wednesday.
Producers are aiming for price increases to regain margin, while buyers are seeking decreases on the back of the fall in the April feedstock propylene contract.
“I am seeing a rollover for the acrylates market this month,” a producer said. “Demand is starting to recover. We still see a need to recover margins, so even with a reduction on raw materials, prices should at least maintain the same level.”
Another producer said it was not accepting any price decreases.
“The best the market can get from us is a rollover, and that's typically what we're seeing," the producer said. "We see demand is picking up, but the coatings season is not really starting.”
A trader said demand in the south of Europe is very low, and cold weather in the north of Europe is delaying the start of the coatings season.
Buyers said contracts have so far rolled over and decreased marginally.
“Increases might be possible for May or June once the coating season has really started,” one buyer said.
March AA contract prices settled at €1,870-1,890/tonne ($2,450-2,476/tonne) FD (free delivered) NWE (northwest Europe).
($1 = €0.76)
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