A number of acrylate ester and AA traders were refraining from quoting prices this week, waiting to see the extent of the propylene hike.
Acrylate esters are used to make paints, coatings, textiles, adhesives, polishes and plastics. They include methyl acrylate (methyl-A), ethyl acrylate (ethyl-A), butyl acrylate (butyl-A) and 2-ethylhexyl acrylate (2-EHA).
Methyl-A prices are at €1,550-1,580/tonne. Ethyl-A prices are at €1,720-1,735/tonne.
Butyl-A prices are at €1,865-1,930/tonne, while 2-EHA prices are at €1,970-2,010/tonne.
Given the sharp increase in propylene, mixed supply and demand fundamentals, and concerns over margins, June contract talks are set to be a lengthy process.