LONDON (ICIS)--European acrylate esters spot prices increased this week, driven by shortages because of the BASF force majeure at Ludwigshafen declared on 18 October.
Supply for 2-ethylhexyl acrylate (2-EHA) in particular has been impacted, with this ester moving into a tight position since the announcement.
Butyl-acrylate (butyl-A) is the next impacted ester, with significant increases confirmed this week, with higher prices discussed since the force majeure. However, there is still material available for butyl-A and the other esters.
November contract talks have started following the upstream propylene settlement.
Propylene settled at a €10/tonne decrease for November. The balanced-to-tight supply and steady demand may prevent any decreases to monthly acrylate prices.
November contract talks will continue for the next few weeks, with further targets from buyers expected next week.
The low water levels on the Rhine are expected to continue to impact the market for the rest of 2018, with some buyers preparing safety volumes into the new year.
Buyers are turning to other sellers for volumes, with an increase in activity on the spot market because of this.
Demand is at a healthy level, although requests are obviously higher because of the the ongoing production outage in the market.
Acrylate esters include methyl-A, ethyl-A, butyl-A and 2-EHA, and are used to make paints, coatings, textiles and adhesives.