Europe Q4 acetic acid prices settle €10/tonne higher

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 Europe).

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 Hull in the UK, and an unplanned outage for the whole of the fourth quarter at MSK’s 100,000 tonne/year plant in Kikinda, Serbia.

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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By: Jane Massingham
+44 20 8652 3214

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