29 November 2012 17:37 [Source: ICIS news]
LONDON (ICIS)--An Indian producer will export a combined volume of 4,000 tonnes of ethyl acetate (etac) to Turkey, Italy and northwest Europe, with the majority of the product destined for the Turkish and Italian markets, a company source said on Thursday.
The cargo is expected to arrive between late December and early January. Demand for etac is better in Turkey and Italy and consequently the countries are being allocated 1,500 tonnes of product each, while the remaining will be forwarded to the producer's tanks in Antwerp, the source said.
"I see more demand in southern Europe than in the north," the source at the Indian producer said, adding the vessel will stop at all three ports to offload cargo.
An earlier batch of 1,000 tonnes of etac arrived in Antwerp last week from the producer and is being sold at €855/tonne ($1,110/tonne) free carrier (FCA) Antwerp, the source added.
Etac supply in Europe is structurally short as it is limited to one major local producer, and consequently attracts regular imports from Mexico, India, Brazil and South Africa.
The latest figures available from European statistics agency Eurostat reveal total etac imports to main ports into Belgium and the Netherlands from outside the 27-member EU nations amounted to 13,675 tonnes in September 2012.
Etac imports from Mexico were the highest at 8,552 tonnes, while India came second at 2,048 tonnes, Brazil at 1,566 tonnes and South Africa at 1,503 tonnes. Imports from China were almost non-existent at a recorded level of 3.8 tonnes.
Celanese Mexicana SA exports etac from its 92,000 tonnes/year etac plant in La Cangrejera, Mexico, while Sasol Chemical Industries Ltd exports etac from its 55,000 tonnes/year plant in Secunda in South Africa.
Rhodia Brasil Ltd exports etac from its 135,000 tonnes/year plant in Paulinia, Brazil. Information on plant capacities are taken from ICIS plants & projects.
Etac is used as a solvent in industrial applications.
($1 = €0.77)
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