26 November 2010 23:59 [Source: ICIS news]
LONDON (ICIS)--European acetic acid contracts for the fourth quarter have settled up €10/tonne ($13/tonne) at both the high and low end, producers and customers said on Friday.
Freely negotiated prices were assessed at €500-550/tonne FD (free delivered) NWE (northwest ?xml:namespace>
Buyers and sellers agreed that prices were either settled with an increase of €10-15/tonne, and occasionally €20/tonne, but when talking about fixed prices, the majority of freely negotiated fixed prices fell within the newly published range.
Increases were achieved on the back of snug supplies due to a planned outage in November/December at one line of BP’s 520,000 tonne/year unit at
Both units were currently scheduled to resume production at the end of the fourth quarter.
Key players in the European spot market include BP, Celanese and Lyondell.
($1 = €0.75)
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