19 June 2012 17:49 [Source: ICIS news]
US spot ethylene fell to a 20-month low last week to 39.50-41.00 cents/lb, but prices have since rebounded a little on firmer feedstock costs and slightly improved demand.
A VAM buyer in Latin America said spot prices were around $810/tonne in some South American countries, but it could not be confirmed. A US seller said most spot business being done was in the $850-900/tonne range.
“This is purely because of ethylene, not demand,” the seller said. “Demand is okay, but this is all driven by what’s happening with ethylene.”
Major US VAM sellers include Celanese, Dow Chemical, DuPont and LyondellBasell.
($1 = €0.79)
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