Europe June MMA contract prices roll over on stable fundamentals

14 June 2013 23:59  [Source: ICIS news]

LONDON (ICIS)--Europe June methyl methacrylate (MMA) contract prices have rolled over from May on stable market conditions, but there is talk that July prices will rise, sources said on Friday.

June MMA contract prices are at €1,750-1,770/tonne ($2,333-2,360/tonne) FD (free delivered) NWE (northwest Europe), and are €80/tonne below levels seen in the same month in 2012.

Prices are unchanged as market fundamentals were largely in line with May, buyers and sellers said.

Demand has been lower this year because of reduced confidence amid the economic downturn.

One consumer said it had agreed its June prices lower, as there was “much more material in the market than demand”.

The June feedstock acetone MMA contract price rose by €10/tonne, on the back of the higher propylene contract price for June.

While some buyers expect to see relatively stable demand in the first half of July ahead of the traditional summer lull, there is talk that prices next month will firm on supply shortages.

There are indications that there might be an unplanned outage at a major European MMA producer over the course of the next month, but this was unconfirmed.

“The market is balanced to tight, and has the potential to become short,” a seller said.

Spot prices are at €1,630-1,690/tonne FD NWE, and steady with values at the time of the settlement of the May contract price.

Follow Helena Strathearn on Twitter

($1 = €0.75)

By: Helena Strathearn
+44 208 652 3214

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