US December maleic anhydride contracts settle at rollover

17 December 2013 22:23 Source:ICIS News

HOUSTON (ICIS)--US December maleic anhydride (MA) contracts settled at a rollover, sources said on Tuesday.

The rollover puts US December MA contracts at 79.70-85.70 cents/lb ($1,757-1,889/tonne, €1,283-1,379/tonne) on an FOB (free on board) basis for molten material.

Buyers and sellers said the month has been quiet because of seasonal factors depressing demand, as well as steady feedstock costs.

Producers said that had feedstock butane prices moved up significantly, there could have been a price increase of 1-2 cents/lb.

Buyers said this was unlikely, as demand is poor, and said that a steep decline in butane would have been unlikely to lead to a price reduction.

The settlement puts contract prices lower by 11% year on year from the average price of 93.20 cents/lb in December 2012.

Major US MA producers include Ashland, Flint Hills Resources, Huntsman and LANXESS.

($1 = €0.73)

By John Dietrich