06 December 2013 11:51 [Source: ICIS news]
LONDON (ICIS)--European demand for methyl methacrylate (MMA) is tapering off as is expected for the time of year, and the spot range is €10/tonne lower on the high end, sources said on Friday.
Spot prices are now at €1,580-1,620/tonne ($2,164-2,219/tonne) FD (free delivered) NWE (northwest Europe).
“Business is very slow,” one trader said.
Following the settlement of the upstream propylene contract for December at an increase, another trader said: “I can't see many buyers wanting to buy spot at a higher price than in November. It [the spot market] seems to be getting very long.”
Destocking is now taking place as players are focused on reducing inventories ahead of year-end to lower working capital.
Nearly all MMA is polymerised to make homopolymers and copolymers, with the largest application being the casting, moulding or extrusion of polymethyl methacrylate (PMMA) or modified polymers.
Follow Helena on Twitter
($1 = €0.74)
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|
Asian Chemical Connections