14 May 2013 22:43 [Source: ICIS news]
The new US acetic acid spot range is $600-690/tonne, compared with the previous $650-740/tonne.
The US methanol spot barge range dropped 3% last week on selling in an attempt to close the arbitrage between China and American spot prices.
A US distributor said the feedstock decline seemed the only reason for the acetic acid drop, adding that demand was unchanged.
The reduction also worked to close a gap between high US acetic acid spot prices and those in Asia and the Far East, which are easily $150/tonne lower.
Another source noted a recent shipment of acetic acid to India that was heard coming from a US producer probably cost around $600/tonne when adding in shipping costs.
Major US acetic acid producers include BP, Celanese and Eastman Chemical.
($1 = €0.77)
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