01 April 2008 00:01 [Source: ICIS news]
SAN ANTONIO, Texas (ICIS news)--A US methyl methacrylate (MMA) producer secured a flat settlement for first-quarter barge acetone contracts on Monday.
“We settled first-quarter barge acetone contracts flat at 47.5 cents/lb ($1,047/tonne) with at least one seller,” the buyer said from the sidelines of the 33rd National Petrochemical & Refiners Association (NPRA) conference in San Antonio, Texas.
Barge acetone is sold to large buyers. Major large buyers include Lucite, Rohm and Haas and Evonik Degussa. Acetone producers include Shell, ?xml:namespace>
Buyers and sellers have been in a standoff on first-quarter negotiations since December. Sellers had proposed hikes of up to net 10 cents/lb on the back of high raw material costs.
It was not yet known if the rest of the industry would settle at this level.
($1=€0.63)
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