26 July 2013 23:59 [Source: ICIS news]
LONDON (ICIS)--European methyl methacrylate (MMA) spot prices have come down this week on slightly improved supply, traders and buyers said on Friday.
“Spot has come off versus some of the July/August settlements,” a spot buyer said.
The range is at €1,730-1,800/tonne ($2,307-2,400/tonne) FD (free delivered) NWE (northwest Europe) this week.
Prices were talked at €1,710-1,735/tonne on the buying side, while traders are offering volumes at up to €1,750/tonne FD NWE.
A trader said it has material coming in on a few different vessels from now until mid-August. “We have been practically empty until now. We're doing business for August at around €1,720-1,750/tonne FD NWE. As far as imports are concerned, we are faced with high prices from overseas suppliers, although today the exchange rate is a bit better than it was.”
Another trader said: “Lucite should be back at the end of July. Prices will start to decrease again, so €1,770/tonne is rather high. I think it'll be around €1,700/tonne FD, maybe a bit lower.”
One seller, however, said prices were more representative at €1,750-1,800/tonne FD NWE, given the ongoing tightness in the market and continued buying interest from the coatings and plastics industries.
Warmer weather has boosted consumption levels in recent weeks, but it is lower than it was during the same period in 2012.
The second trader said: “The weather is good but the buyers are not there.”
The range has widened. A clearer pricing picture is likely to emerge in the next couple of weeks.
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($1 = €0.75)
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