18 November 2013 16:43 [Source: ICIS news]
LONDON (ICIS)--Spot methyl methacrylate (MMA) prices in Europe have fallen by €30-45/tonne ($41-61/tonne) on slower demand and improved availability, sources said on Monday.
Prices are now at €1,580-1,620/tonne FD (free delivered) NWE (northwest Europe).
“There is a slowdown, the market is quiet at the moment,” a trader said. “Everybody is looking to get rid of stocks. There are not that many enquiries from customers.”
Higher-priced offers have been met with little buying interest, it added.
“We [have] hardly had any business in the last few days,” another trader said. “It's very, very quiet.”
Demand from the coatings and construction sectors has gradually tapered off in recent weeks, as is seasonal. Inventories are being closely monitored as businesses are looking to reduce working capital ahead of year-end.
“There is not much happening in the market,” a buyer said on Friday. “Everybody is covered.” The buyer said spot is available at €1,600/tonne FD NWE.
Another buyer said: “Demand is going down and supply is long.” It added prices are on a downtrend because of stock reductions and colder weather.
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($1 = €0.74)
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