20 September 2012 21:56 [Source: ICIS news]
HOUSTON (ICIS)--Spot prices for US vinyl acetate monomer (VAM) have increased by $20/tonne (€15/tonne) this week on rising raw material costs and a producer nomination, buyers and sellers said on Thursday.
ICIS assessed the VAM FOB (free on board) export range at $880-980/tonne, up from $860-960/tonne the previous week.
Most of the rise comes from a force majeure declared on feedstock US acetic acid at a Texas plant in late July. Another reason stems from US ethylene spot prices, which have jumped by 20% in the same period.
The Texas City acetic acid plant restarted in mid-August.
In addition, Celanese has issued a proposal to raise VAM prices in the Americas by 3 cents/lb or $70/tonne on 1 October.
A buyer in Latin America said that increase appeared to have already gained some acceptance because of an expected turnaround in October at an unnamed US plant.
Major US VAM producers include DuPont, Dow Chemical, Celanese and LyondellBasell.
($1 = €0.77)
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