Europe April MMA contract prices rise on margin recovery

19 April 2013 23:59  [Source: ICIS news]

LONDON (ICIS)--Europe April methyl methacrylate (MMA) contract prices have settled up by €70/tonne ($91/tonne) since March, on margin recovery, sources said on Friday.

April MMA contract prices are €60/tonne below levels seen at the same time last year.

Producers sought price hikes to restore margins that have been squeezed by high feedstock costs, and on expectations of a tighter market.

However, supply is balanced with steady demand.

The April feedstock acetone MMA contract fell by €35/tonne, on the back of the lower propylene contract price, while the upstream second-quarter methanol contract rose by €20/tonne.

April MMA contract prices are at €1,760-1,790/tonne FD (free delivered) NWE (northwest Europe).

“Demand is slow,” a buyer said. “We have had price increases for April. There is a lot of MMA available and the market is very very bad. We will have to see what happens in Europe after April.”

($1 = €0.77)

By: Helena Strathearn
+44 208 652 3214

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