22 November 2013 23:59 [Source: ICIS news]
LONDON (ICIS)--Europe November methyl methacrylate (MMA) contract prices have decreased from the previous month on the back of lower feedstock costs, buyers and sellers said on Friday.
November MMA contract prices are at €1,780-1,840/tonne ($2,405-2,486/tonne) FD (free delivered) NWE (northwest Europe).
MMA players are keeping a close eye on developments in the propylene market because December contract negotiations will get underway next week.
Sources expect propylene prices to roll over or increase moderately because of firmer naphtha values, the potential for supply to be constrained further because of reductions in cracker operating rates, and seasonally weak demand.
The MMA market is balanced to long and demand is stable to soft.
Fourth-quarter MMA contract prices settled at €1,780-1,830/tonne FD NWE.
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($1 = €0.74)
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