11 August 2010 08:41 [Source: ICIS news]
Monthly etac exports prior to June averaged 26,479 tonnes, with the exception of January, China Customs said.
Etac exports for the first six months of the year was 144,312 tonnes, an increase of about 65% from the 87,309 tonnes shipped out during the same period last year, it said.
“Ethyl acetate exports were down in June due to the weak demand season and buyers were bearish amid reports about the dismal global economic growth outlook,” a major Jiangsu-based producer said in Mandarin.
“In the domestic market, buyers were cautious overall due to credit control measures,” he added.
However, as the traditional lull demand season in the inks and solvents industries during the June to August period was drawing to a close, local market sources anticipate export volumes to show a recovery in September.
“The export volume is likely to show an increase in September as buyers start to replenish inventories after the June to August demand lull season,” the producer said.
Meanwhile, offers for spot etac cargoes were firm at around $820/tonne (€623/tonne) FOB (free on board) China for August and September loading, amid rising ethanol feedstock costs.
($1 = €0.76)
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