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 ?xml:namespace>
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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