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).
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($1 = €0.76)
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