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.
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($1 = €0.74)
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