22 August 2013 17:39 [Source: ICIS news]
HOUSTON (ICIS)--US acrylic acid and acrylate esters contract prices settled flat for August as nominal feedstock pressure kept values from weakening amid soft market conditions, sources said on Thursday.
“We didn’t announce for August,” one producer said. “It wouldn’t have survived.”
No other major producers proposed August hikes either, despite a 1 cent/lb ($22/tonne, €17/tonne) gain in July feedstock chemical-grade propylene (CGP).
The rollover holds freely negotiated glacial acrylic acid (GAA) prices within a range of $1.08-1.12/lb, as assessed by ICIS. US contract values have been flat since May.
Several sources suggested the July CGP gain had buoyed August acrylates prices.
Earlier in the month, several buyers said August acrylates prices were poised to fall slightly on ample supply and unseasonably weak demand.
Indeed, several acrylates sources say September initiatives of 3-5 cents/lb may be only partially successful because of soft market conditions and despite a 5 cent/lb increase in August feedstock chemical-grade propylene.
US acrylates producers include Arkema, BASF and Dow Chemical.
($1 = €0.75)
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