Middle East etac falls $100/t on cheap imports

05 March 2008 10:18  [Source: ICIS news]

SINGAPORE (ICIS news)--Prices of ethyl acetate (etac) in the Middle East have fallen by about $100/tonne in the past two weeks due to the influx of supplies from China, said industry sources on Wednesday.

 

The latest prices were assessed at $1,100-1,150/tonne CFR (cost and freight) Middle East, according to global chemical intelligence service ICIS pricing, while just two weeks ago they were at $1,240-1,260/tonne

 

Late last week, a cargo of Chinese origin was heard traded at $1,210/tonne on a DEL (delivered) Dubai basis.

 

The DEL cost, which included delivery to buyers from the port of Dubai, was estimated at around $60/tonne and would equate to $1,150/tonne CFR Middle East.

 

Prices in Middle East have softened since China producers resumed exports of etac after the Lunar New Year holidays.

 

A 5,500 tonne cargo of Chinese origin was reported done at $980-990/tonne for first half of March lifting and slated to arrive sometime in mid-April into the Middle East. The vessel was chartered at $75-85/tonne.

 

Ex-tank prices were heard offered at $1,150/tonne in the Middle East.

 

Cargoes of Indian origin were heard offered at around $1,200/tonne FOB (free on board) Mumbai but they were not as competitively priced as the Chinese cargoes.

 

Ethyl acetate is primarily used as a solvent and is also used in paints as a hardener.

By: Desmond Chia
+65 6780 4359

< previous article(ICIS Chemical Business podcast November 2, 2009)

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