02 November 2013 00:01 [Source: ICIS news]
Correction: In the ICIS news story headlined "Europe Q3 MMA settles at rollover" dated 2 November 2013, please read in the headline ... Europe Q4 ... instead of ... Europe Q3 .....
LONDON (ICIS)--Q4 methyl methacrylate (MMA) contracts in Europe have settled at a rollover from the third quarter, sources confirmed on Friday.?xml:namespace>
Sellers reported settling at rollovers to slight increases, while the majority of buyers reported rollovers and in some cases small decreases.
Consumers were initially seeking price decreases because of slower seasonal demand, October raw material acetone cost decreases, and expectations that feedstock costs would soften in November and December. Spot numbers have also decreased since July.
Producers were looking to improve margins that have been squeezed amid continuing market uncertainty. August and September acetone contract prices rose on the back of higher upstream costs, while Q4 methanol contract prices moved up by €18/tonne.
When producers announced price increases, the market was also considered to be tighter, but now seems balanced.
Demand is holding relatively steady for the time of year, possibly due to ongoing mild weather supporting the construction industry. Destocking is not expected to be excessive this year as stocks have been kept low due to the uncertain economic climate.
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