26 June 2013 23:40 [Source: ICIS news]
HOUSTON (ICIS)--A US methyl methacrylate (MMA) producer announced on Wednesday its plan to increase July contract prices by 4 cents/lb ($88/tonne, €67/tonne).
In a letter to customers, Evonik cited no specific reason for the proposed hike, but buy-side sources said rising June acetone values was the likely rationale. June truck acetone contracts have begun to settle up by 5 cents/lb on tight feedstock refinery-grade propylene (RGP) supply, and at least one barge contract has settled up by 4.5 cents/lb for June.
June MMA prices were flat on largely stable conditions including a rollover in the May feedstock barge acetone contract, holding the railcar price range at $1.18-1.22/lb, as recently assessed by ICIS.
May MMA truck and rail values were previously assessed down by an average of 2 cents/lb on upstream weakness and delayed spring coatings demand.
However, sources described current supply as balanced to tight as demand has risen slightly during the typical demand peak of the MMA season.
Producer Lucite recently placed its European MMA customers on sales control because of an unplanned outage at its Cassel site in northeastern England. A source close to the company said, however, that that the outage would have “no effect” in the US.
Other major US MMA producers include Arkema and Dow Chemical.
($1 = €0.76)
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