Europe acetic acid November contracts roll over from October

09 November 2012 23:59  [Source: ICIS news]

LONDON (ICIS)--European acetic acid November contract prices were assessed by ICIS on Friday at a rollover in the range of €410–440/tonne ($526–564/tonne).

The contracts were concluded on a free delivered (FD) northwest Europe (NWE) basis.

Contract prices were concluded at rollovers and minor decreases. One reseller had said it would seek modest hikes.

Price movement did not exceed €10/tonne for any of the monthly accounts that were discussed.

Some upward pressure from feedstock methanol in recent weeks was counterbalanced by good acetic acid supply, together with lacklustre demand for downstream vinyl acetate monomer (VAM).

ICIS introduced a monthly contract price assessment in March 2012. Substantial quantities of acetic acid continue to be sold on quarterly contracts.

No changes were heard on the spot market this week, and prices for truck delivery were assessed stable at €500-520/tonne FD NWE.

Spot prices for bulk cargoes continued to be heard in the mid-€400s/tonne FD NWE.

($1 = €0.78)

By: Samuel Weatherlake
+44 20 8652 3214

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