08 December 2010 17:31 [Source: ICIS news]
HOUSTON (ICIS news)--Rising feedstock costs have swayed market participants to accept a 5 cent/lb ($110/tonne) increase from US acetic acid producers for late November and early December, sources said on Wednesday.
The buyer also predicted further hikes in January.
A buyer in downstream product ethyl acetate (etac) also said he had heard of customers paying the higher prices for acetic acid.
"I think it is sticking," the buyer said of the increase.
Large acetic buyers usually are contract customers.
US Gulf free on board (FOB) prices for acetic acid provided weekly by ICIS currently range from $525-$600/tonne (€394-450/tonne).
Major US acetic acid producers include Celanese, BP and Eastman Chemical.
($1 = €0.75)
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