02 October 2013 22:38 [Source: ICIS news]
HOUSTON (ICIS)--US acrylic acid and acrylate esters freely negotiated contract values were heard beginning to settle flat for October, two producers and a buyer confirmed on Wednesday.
October feedstock chemical-grade propylene (CGP) prices are expected to weaken, and may have prompted the early October acrylates settlements, two sources said.
Two producers said they had settled most or all of their October contracts flat, and a customer reported rollovers for glacial acrylic acid (GAA) and two of the esters.
“There is not much change in the market,” one producer said, “so we decided to roll over our prices.”
Monthly acrylates contract prices are principally informed by the previous month’s CGP values, which settled flat in September. However, downward October pressure on propylene may have created concern that current acrylates prices might weaken, therefore hastening some contract settlements, sources suggested.
Previously, soft market conditions held negotiated September acrylates contracts flat to only slightly higher in spite of a 5 cent/lb ($110/tonne, €81/tonne) gain in August CGP. Formula prices, however, increased by 2-4 cents/lb for September.
Major US acrylates producers include Arkema, BASF and Dow Chemical.
($1 = €0.74)
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
Asian Chemical Connections