Europe Q3 acetic acid prices settle €10/t higher at low end

10 September 2010 23:59  [Source: ICIS news]

LONDON (ICIS)--European acetic acid contracts for the third quarter have settled up by €10/tonne ($13/tonne) at the low end and rolled over at the high end, producers and customers said on Friday.

Freely negotiated prices were assessed at €490-540/tonne FD (free delivered) NWE (northwest Europe). Buyers and sellers agreed that prices were either settled at a rollover or with a slight increase of €5-10/tonne, and the majority of freely negotiated fixed prices fell within the newly published range.

Producers had posted targets of plus €75-90/tonne at the start of the quarter, due to the low euro versus the US dollar, but a largely balanced market led customers to hold out for a rollover.

Key players in the European spot market include BP, Celanese and Lyondell.

($1 = €0.79)

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By: Jane Massingham
+44 20 8652 3214

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