Europe spot MMA prices rise on limited availability

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

LONDON (ICIS)--Spot prices in the European methyl methacrylate (MMA) market have risen sharply this week on limited availability, following an announcement on Monday that major MMA producer Lucite International needed to place its customers on sales control, sources said on Friday.

Prices have risen to a level last seen in June last year.

Sellers said there are now a number of enquiries being made as buyers seek to secure volumes for June and July in 2013.

July prices are likely to see further hikes, buyers said, although some said there is sufficient material to meet immediate requirements. Underlying demand into July is expected to remain stable, and market participants said the sector would tighten in the coming weeks.

A number of players have been running with low inventories on irregular demand and an uncertain outlook.

The range has moved up by €70-80/tonne ($92-105/tonne) since last week. Spot prices are at €1,700-1,770/tonne FD (free delivered) NWE (northwest Europe).

Follow Helena Strathearn on Twitter

($1 = €0.76)

By: Helena Strathearn
+44 208 652 3214

AddThis Social Bookmark Button

For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.

Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.

Printer Friendly