23 August 2013 23:59 [Source: ICIS news]
August MMA contract prices are at €1,810-1,840/tonne ($2,413-2,453/tonne) FD (free delivered) NWE (northwest Europe), and are €50/tonne below levels seen in the same month in 2012.
Demand is lower than it was in July, owing to European summer holiday absences and traditional business shutdowns, but buying interest is healthier than it was earlier in the year.
Warm weather and a slight improvement in economic sentiment have boosted end-use consumption in Europe.
The start of the coatings season was delayed by poor spring weather and a gloomy economic outlook.
While supply limitations have eased slightly in recent weeks, availability remains tight, following the sales control that was in place at major producer Lucite International from 17 June until 31 July. The 200,000 tonne/year MMA supplier had encountered technical problems at its Cassel site in the UK in June.
Follow Helena Strathearn on Twitter
($1 = €0.75)
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|
Asian Chemical Connections