Europe Jan acetone MMA contract price settles up €12/tonne

30 December 2013 12:16 Source:ICIS News

LONDON (ICIS)--The European January acetone methyl methacrylate (MMA) contract price has moved up by €12/tonne ($16/tonne) from December, following an increase in the value of major feedstock propylene, a market source said on Monday.

The €12/tonne increase takes the January acetone MMA contract price to €923/tonne FD (free delivered) NWE (northwest Europe).

“We have settled plus €15/tonne on the gross and €12/tonne on the net [for January],” an acetone producer said.

It added, “I expect demand to increase in January, but not until the second or third week. That is the reason we have accepted a reduced increase compared to C3 [propylene].”

However, buying side confirmation is still pending.

Acetone spot prices have seen some upward pressure in recent weeks as expectations of an seasonal increase in demand,  coupled with feedstock rises, set expectations of future price hikes.

($1 = €0.73)

By Rhian O'Connor