Europe acetic acid June prices roll over on stable fundamentals

14 June 2013 23:59  [Source: ICIS news]

LONDON (ICIS)--European acetic acid June contract prices were assessed by ICIS on Friday at €410-450/tonne ($547-600/tonne), unchanged from May.

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

Acetic acid contract prices for June were mostly concluded at a rollover from May, market participants said this week.

No significant changes in market fundamentals have been observed, sources explained, while demand from most downstream sectors remains lacklustre.

One producer said most of its June contract prices were stable from May, but noted that it had achieved slight increases for some contracts and spot deals.

The source said it had recorded a modest rise in demand from the purified terephthalic acid (PTA) sector, but acknowledged that it had not seen any significant improvement in overall offtake.

A second producer said that all of its monthly contract prices had rolled over and there were no changes on the spot market.

Resellers indicated that bulk spot cargoes were being offered into Europe in a wide price range. One said it had offered a 1,000 tonne cargo at €530/tonne delivered NWE, but had not found a buyer.

Another said that prices were being talked at €380-390/tonne delivered NWE, while the first producer said it had not seen spot tonnes on offer below €400/tonne.

A reseller based in central Europe said that demand had fallen slightly in June, but it was not sure why. The source said that prices were just above €450/tonne FD central Europe for truck deliveries, but acknowledged that it had not received many spot enquiries recently.

Spot prices for truck delivery were assessed slightly up at the high end in the range of €480-510/tonne FD NWE.

($1 = €0.75)

By: Samuel Weatherlake
+44 20 8652 3214

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