US acetic acid exports in May drop 18% from year-ago month

13 July 2010 20:18  [Source: ICIS news]

HOUSTON (ICIS news)--US exports of acetic acid in May totalled 80,938 tonnes, down by 18% from 98,570 tonnes during the same month of 2009, the US International Trade Commission (ITC) said on Tuesday.

For the year through May, acetic acid exports fallen 15% to 376,467 tonnes, compared with 440,771 tonnes in the first five months last year, according to the ITC.

Weak demand continued to characterise acetic exports. Domestic contract prices rolled over for many customers going into the second quarter, according to a US producer.

Mexico, Belgium and Brazil continued to dominate acetic exports in the first five months this year, accounting for a collective 333,650 tonnes - or almost 89% of total shipments.

US Gulf coast export FOB (free on board) acetic acid prices as assessed by ICIS were $500-575/tonne (€395-454/tonne) over the past month.

Major US acetic acid sellers include BP, Celanese and Eastman Chemical.

($1 = €0.79)

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By: Lane Kelley
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