11 January 2013 23:59 [Source: ICIS news]
The contracts were assessed on a free delivered (FD) northwest Europe (NWE) basis.
Market participants indicated that most contracts had settled at a rollover or slight decrease from the third quarter, based on good availability.
A fairly steady trend was seen on monthly contract prices throughout the fourth quarter, and this was reflected in the outcome of fourth quarter price negotiations.
Some contracts were still under discussion, but these were expected to settle in line with those previously concluded.
Sources indicated that the majority of fourth quarter contract prices had rolled over from the third quarter.
One buyer said it had settled some of its contracts early in the fourth quarter at modest increases, but acknowledged that this was probably not in line with the prevailing price trend.
Another buyer said it had achieved a slight price reduction from some of its suppliers, but said this had not been easy.
A buyer still involved in negotiations suggested that there was room for some downward movement, but said a rollover would be acceptable, as this would reflect the flat market conditions.
Acetic acid spot prices for truck delivery were assessed in the range of €480–500/tonne FD NWE.
($1 = €0.75)
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