16 October 2013 23:59 [Source: ICIS news]
LONDON (ICIS)--Europe October acrylic acid (AA) contract prices have rolled over and decreased by €10/tonne ($14/tonne) from September, on steady demand and lower feedstock costs, sources said on Wednesday.
Contract prices are at €1,870-1,900/tonne FD (free delivered) NWE (northwest Europe).
The October feedstock propylene contract price fell by €40/tonne.
AA spot prices are lower on the high end at €1,500-1,540/tonne FD NWE.
"We had to fight for the rollover," one producer said.
Demand is stable, with some expectation that November buying interest will dip slightly.
Market sources said the force majeure declaration by Arkema on 7 October had so far had little impact on availability.
The French specialty chemicals producer implemented force majeure on AA and butyl acrylate (butyl-A) from its Carling facility, because of a mechanical failure. The plant has restarted and normal operations are slowly resuming, a source from the company confirmed on Wednesday.
“Things are going very well, so we don't think it will be in place for much longer,” the source added.
Arkema has a crude AA capacity of 276,000 tonnes/year at its Carling, France.
AA and its esters are used in the manufacture of various plastics, coatings, adhesives and elastomers, as well as floor polishes and paints.
($1 = €0.74)
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