16 March 2012 23:59 [Source: ICIS news]
LONDON (ICIS)--March acetic acid contract prices have been concluded at ranges reflecting modest changes from February price levels, sources said on Friday.
March prices were assessed largely in the range of €370–410/tonne ($486–539/tonne) FD (free delivered) NWE (northwest Europe).
Increases and decreases were heard, but these did not exceed €10/tonne ($13/tonne) in most cases, with some hikes of €20/tonne linked to accounts in southern Europe.
A significant number of contracts are now priced on a monthly basis, while some sellers price their spot tonnes at monthly intervals. Substantial quantities of acetic acid are also sold on quarterly contracts.
First-quarter contract prices were assessed by ICIS last week at €400–450/tonne FD NWE.
Acetic acid supply remains good, with spot prices steady in the low €400s/tonne FD NWE for bulk tonnes and the high €400s/tonne FD NWE for truck deliveries.
A reseller noted weak demand, and suggested that supply could shorten in the near future, depending on the availability of Asian imports.
A trader reported that there was little buying interest in a spot cargo it was offering.
($1 = €0.76)
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