23 October 2012 22:55 [Source: ICIS news]
HOUSTON (ICIS)--Spot prices for US vinyl acetate monomer (VAM) have increased by $20/tonne (€15/tonne) this week on tighter supply from ongoing plant maintenance in October, buyers and sellers said on Tuesday.
ICIS assessed the VAM free on board (FOB) export range at $920-1020/tonne, up from $900-1000/tonne the previous week.
The latest jump marks the fourth increase in spot VAM in the past two months.
Much of the rise is related to feedstocks, to a force majeure declared on US acetic acid at a Texas plant in July and increases in US ethylene spot prices. But sources said maintenance work being done in October at two VAM plants also tightened supply.
Sources said LyondellBasell’s Texas VAM plant was scheduled to finish a few weeks of maintenance work at the end of last week, though the company would not confirm. Another VAM plant was said to be in turnaround, but sources could not confirm the unit.
VAM spot prices have increased by $40/tonne this month, meaning a large portion of Celanese’s $70/tonne increase nominated for 1 October has been accepted by the market.
Major US VAM producers include DuPont, Dow Chemical, Celanese and LyondellBasell.
($1 = €0.77)
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