US acetic acid spot rises 7.5% on methanol jump, sales control

28 February 2013 22:27  [Source: ICIS news]

HOUSTON (ICIS)--US acetic acid spot prices have increased by $45-50/tonne (€34-38/tonne) this week on a rise in the cost of feedstock methanol earlier this month and because of a recent sales control issued by Celanese, sources said on Thursday.

US acetic acid spot prices rose to $650-700/tonne, from $605-650/tonne previously.

Earlier this week, US March methanol contracts jumped as Southern Chemical Corp (SCC) raised its monthly posting to 153 cents/gal and Methanex increased its number to 155 cents/gal.

Another US acetic acid producer, LyondellBasell Acetyls, issued a three cents/lb increase effective 1 March throughout North, South and Central America, according to the announcement.

Dated 27 February, the LyondellBasell announcement gave no reason for the hike.

Major US acetic acid sellers include BP, Celanese and Eastman Chemical.

($1 = €0.76)

By: Lane Kelley
+1 713 525 2653

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