29 July 2013 19:18 [Source: ICIS news]
HOUSTON (ICIS)--US methyl methacrylate (MMA) truck and rail prices settled flat from June among most market participants, although some gains were heard, sources said on Monday.
July increase initiatives of plus 4-5 cents/lb ($88-110/tonne, €66-83/tonne) surfaced early in the month, but most sources predicted July contract prices would settle flat or at gains of only 1-2 cents/lb.
Although a producer said it had achieved gains of about 3 cents/lb, the absence of a large producer from July price-hike efforts held prices broadly flat.
August initiatives are anticipated, and will likely succeed, some customers conceded even before Lucite declared a recent force majeure (FM) on North American supply after a key raw materials supplier experienced operational problems.
The FM severely tightened an already snug market that has seen steady demand.
July barge acetone talks continued for most participants in that market, but a second buyer has confirmed that its July contracts had settled up by 1 cent/lb. US July truck acetone price-hike initiatives of 2-5 cents/lb were rebuffed by buyers.
The rollover held July railcar MMA prices at $1.18-1.22/lb, as assessed by ICIS.
US MMA producers include Lucite, Arkema, Dow Chemical and Evonik.
($1 = €0.75)
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