17 April 2013 23:59 [Source: ICIS news]
LONDON (ICIS)--European acrylate esters April contract prices have rolled over and decreased from the previous month on the back of the upstream April propylene price fall, amid balanced market conditions, sources said on Wednesday.
The April European propylene contract price decreased by €50/tonne ($66/tonne) from March, and prompted buyers in the acrylate esters sector to seek price decreases.
Demand remains steady, having failed to pick up as it usually does in spring. Offtake from the construction and coatings sectors typically ramps up in March and April, but ongoing concerns surrounding the eurozone debt crisis have slowed demand.
“We’re seeing steady demand, and we’re not seeing anything substantially improving for the coatings season yet,” one seller said. “The weather is not helping and obviously the euro climate is probably not helping so we're not seeing positive signs of increased demand from the market.”
Players hope that temperatures across Europe will warm in May and boost demand for the sector. April usually signifies the start of the coatings season.
April butyl acrylate (butyl-A) contracts are at €1,800-1,830/tonne FD NWE, and 2-ethyl hexyl acrylate (2-EHA) contract prices have settled at €2,080-2,110/tonne.
($1 = €0.76)
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