12 October 2012 23:59 [Source: ICIS news]
LONDON (ICIS)--European third-quarter contract prices for vinyl acetate monomer (VAM) were assessed by ICIS on Friday at a decrease of €20–30/tonne ($26–39/tonne) in the range of €860–920/tonne FD (free delivered) NWE (northwest Europe).
Third-quarter contract prices for some accounts were heard below the assessed range, but these were not deemed representative of the market level.
The decreases were based on lower average ethylene prices for the third quarter compared with the second quarter.
The third-quarter period covered the summer holiday season, when demand is significantly lower than for most of the year.
The outlook for the fourth quarter is bearish, as consumers are expected to be conservative with their inventories in the months leading up to the end-of-year holiday season.
While it is still early to be looking ahead to 2013, sources said they do not expect to see any major changes in the market environment.
October contract prices were assessed at €865–895/tonne FD NWE, down by €10–20/tonne from September.
Spot prices were assessed at €850–880/tonne FD NWE this week, down by €10/tonne.
($1 = €0.77)
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