19 July 2013 23:59 [Source: ICIS news]
LONDON (ICIS)--European vinyl acetate monomer (VAM) July contract prices were assessed by ICIS on Friday in the range of €800-825/tonne ($1,052-1,086/tonne), down slightly from June.
The contracts were concluded on a free delivered (FD) northwest Europe (NWE) basis.
Although a producer said on 19 July that it had concluded all its monthly contracts at a rollover, within a range that corresponded with the published assessment for June, a number of buyers have quoted numbers below €800/tonne.
The consensus was that values have softened since June contracts were settled, although reductions have been small.
Neither upstream nor downstream factors have provided much direction to VAM prices this month. Both ethylene and acetic acid costs have stayed the same. Feedback from buy side sources has given a mixed picture of demand in customer markets, with some describing consumption as fairly weak and others saying demand in their own sectors has improved a little.
Spot prices, while unchanged this week, have previously shown a modest decline at the higher end of the range, which is assessed €780-800/tonne FD NWE, to reflect sliding values in the market.
($1 = €0.76)
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