29 March 2010 00:46 [Source: ICIS news]
SAN ANTONIO, Texas (ICIS news)--US vinyl acetate monomer (VAM) prices should see fairly small increases coming in April on feedstock hikes, producers said on Sunday.
Two producers said they expected first quarter VAM to settle for 1-3 cents/lb higher. Another said the range might be 2-4 cents/lb higher.
The March ethylene contract has not settled yet, but US spot ethylene for March/April was assessed at 61.00-63.00 cents/lb ($1,345-1,389/tonne or €1,009-1,042/tonne) on Friday, down from 70.00 cents/lb in early March but up from 42.50-43.00 cents/lb in the first week of January.
Ethylene represents roughly 33-38% of the VAM price, depending on the producer. All of the producers said the first quarter VAM settlement was waiting on the ethylene negotiation.
First quarter US VAM contract prices ran 47-52 cents/lb ?xml:namespace>
Major North American VAM producers include Celanese, Dow Chemical, LyondellBasell and DuPont.
($1 = €0.75)
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