Outlook for Europe spot MMA steady over next few weeks

21 October 2013 14:09  [Source: ICIS news]

LONDON (ICIS)--Methyl methacrylate (MMA) spot prices in Europe are expected to remain largely steady in the next couple of weeks, following a near-€140/tonne ($192/tonne) drop in pricing since July, on softer market fundamentals, sources said on Monday.

Prices fell to €1,625-1,650/tonne FD (free delivered) NWE (northwest Europe) at the end of September, and the range has been stable since.

Bids and offers are wider at €1,600-1,670/tonne FD NWE, but the majority of business is understood to be taking place in the narrow range of €1,625-1,650/tonne FD NWE.

“The market is long,” a buyer said. “There is more than enough material in the market. I am confident I can get material at €1,600/tonne for October delivery.”

A trader said most of its business was being done at €1,630-1,650/tonne FD NWE. “There are not many enquiries for material, it’s a little bit quiet. I don't see any big changes until the first half of November with regards to price and volume.”

Mid-year spot prices were at €1,750-1,800/tonne FD NWE, because of limited availability, but prices began to soften at the end of July.

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($1 = €0.73)

By: Helena Strathearn
+44 208 652 3214

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