17 April 2012 22:22 [Source: ICIS news]
HOUSTON (ICIS)--US ethyl acetate (etac) distributor prices have fallen by 3–4 cents/lb ($66–88/tonne, €50–67/tonne) during the past week on competition from imported material, buyers said on Tuesday.
The sale of material, said to come from INEOS in the UK, pushed the popular etac distributor price range down to 80–84 cents/lb in the past week, from the previous 84–87 cents/lb, buyers said.
The imported material is confined to a handful of customers and is selling for as little as 75 cents/lb, according to a buyer.
“It’s a very small quantity that’s made a lot of noise in the northeast market,” the buyer said. “It is only one or two companies that have purchased it.”
The price drop ends a month of wide disparities in the etac market, though the prices paid most likely did not swing nearly as wide as the prices heard.
Producer Celanese issued a 2 cent/lb proposed increase for 1 April, repeating the same increase gained in January, but there was no confirmation of customers paying the latest one.
Eastman Chemical also was heard to be shopping material for around 90 cents/lb, but sources said they knew of no one paying that much.
Etac suppliers in the US include Celanese, Eastman, Solutia and Sasol.
($1 = €0.76)
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