29 November 2013 17:15 [Source: ICIS news]
LONDON (ICIS)--The European spot methyl methacrylate (MMA) price range narrowed this week as the high end of the range edged down by €20/tonne ($27/tonne) on slower demand ahead of year-end, sources said on Friday.
Prices are at €1,580-1,630/tonne FD (free delivered) NWE (northwest Europe).
“I can observe the market is rather flat and the customers are not really interested to buy material,” one distributor said.
Traders are looking to empty their tanks to reduce working capital ahead of year-end. Some buyers said that despite being offered lower-priced material, their volumes are covered and their December requirements would be lower.
There is spot activity taking place, however, and this is expected to carry on for another couple of weeks.
“We are getting €1,580/tonne DDP [delivered duty paid] at the moment,” another distributor said.
One consumer said: “I had some traders asking if I want to take [material] in December. I was offered [MMA spot at] €1,600/tonne last week. There's so much volume knocking around.”
“I’m not really buying [spot] but I got an offer for December at €1,600/tonne FD,” another consumer said.
A third distributor said:“We have not managed to get anything better than €1,580/tonne FD NWE so far this week.”
Material is still being offered at up to €1,650/tonne FD NWE, but the majority of spot is trading at €1,580-1,620/tonne FD NWE, sources said.
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($1 = €0.74)
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