LONDON (ICIS)--Europe methyl methacrylate (MMA) spot prices have firmed on the high end of the range on slightly improved demand, in the first increase spot prices have seen since the end of February, sources said on Thursday.
Spot prices for end of April delivery are at €1,620-1,680/tonne FD (free delivered) NWE (northwest Europe), showing a €30/tonne rise on the top end of the range.
Traders said that May delivery prices are being offered higher, but there was no confirmation on the buy side.
“The market seems to be moving up,” one trader said. “The producers are moving prices up because it's been too long that prices have not moved up. Producers are saying, 'We can't afford to do this any longer at these prices.'”
Buyers this week said that there is little to no reason for prices to rise, as demand is not particularly healthy and there is sufficient material on the market.
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 Strathearn on Twitter