10 September 2013 20:40 [Source: ICIS news]
HOUSTON (ICIS)--US September maleic anhydride (MA) contracts settled at a rollover, sources confirmed on Tuesday.
This puts September contracts at 77.2-83.2 cents/lb ($1,702-1,834/tonne, €1,277-1,376/tonne) on an FOB (free on board) basis for molten material.
The rollover was largely expected by market participants at the start of the month, despite room for prices to climb.
Sources said that supply of MA is tight, while feedstock butane prices have increased.
However, the rollover allowed buyers to restore margins, sources said, as MA prices rose slightly faster than feedstock butane costs.
Market players agreed that demand for MA is also strong and should hold steady through the end of the year.
“Demand is outstanding,” a buyer said. “Everyone should be ahead of where they were last year.”
Major US MA producers include Ashland, Flint Hills Resources, Huntsman and LANXESS.
($1 = €0.75)
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