02 September 2010 17:16 [Source: ICIS news]
LONDON (ICIS)--European ethyl acetate prices have firmed by €50/tonne ($64/tonne) on the back of tight availability, buyers and sellers said on Thursday.
A planned outage from INEOS and SEKAB Biofuels & Chemical, as well as reduced imported volumes had resulted in tight supply for spot business in September, with prices assessed around €870-900/tonne, free delivered (FD), northwest Europe (NWE).
INEOS commenced its planned five week shutdown on 1 September at its 245,000 tonne/year unit at ?xml:namespace>
While contractual obligations would be met during the outage, spot opportunities were expected to be limited.
SEKAB’s plant in
These outages, combined with reduced imported volumes from Asia and the
“We’re not sure how long the tightness will remain – it could result in some sort of sales control later (in September),” one re-seller said.
However, most agreed that the firmer prices were more on the back of supply, as demand was still said to be relatively slow.
“Demand is good, not huge, but the availability is tight,” one producer said.
($1 = €0.78)
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