04 January 2012 23:16 [Source: ICIS news]
HOUSTON (ICIS)--Fourth-quarter contracts for US vinyl acetate monomer (VAM) rolled over with a major feedstock settlement, buyers and sellers said on Wednesday.
The rollover keeps US VAM contracts at 57–60 cents/lb ($1,257–1,323/tonne, €968–1,019/tonne), as assessed by ICIS.
Quarterly VAM contracts often settle at the end of the quarter or even a few weeks into the next period because of unsettled contracts in ethylene, which is a crucial VAM feedstock.
VAM contract prices have increased by about 22% from 46–50 cents/lb in January 2011, mainly on higher raw material costs.
FOB (free on board) export prices for VAM are stable at $975–1,100/tonne, sources said.
Major US VAM sellers include Celanese, Dow Chemical, DuPont and LyondellBasell.
For more on VAM visit ICIS chemical intelligence
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