03 June 2008 21:39 [Source: ICIS news]
But no business was transacted at that price, the buyer added.
Eastman's last price proposal for acetic acid was a 2-cent/lb nomination for April, which did not gain a foothold in the market. Initial prices on second-quarter contracts in ?xml:namespace>
Eastman did not return a message seeking comment.
Acetic acid is a feedstock for vinyl acetate monomer (VAM), a key ingredient in paints and coatings that accounts for about 60% of the acetic acid market.
Dow Chemical on Monday announced a 4-cent/lb increase for VAM, according to the company.
The FOB (free on board) export price range for acetic acid is $750-800/tonne, according to global chemical intelligence service ICIS pricing. List prices remain at 67-69 cents/lb.
($1 = €0.64)
For more on acetic acid visit ICIS chemical intelligence
To discuss issues facing the chemical industry go to ICIS connect
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|