13 September 2013 23:59 [Source: ICIS news]
LONDON (ICIS)--European acetic acid September contract prices were assessed by ICIS on Friday at €405-450/tonne ($540-600/tonne), unchanged from August.
The contracts were concluded on a free delivered (FD) northwest Europe (NWE) basis.
Although one supplier said it had been able to achieve minor increases here and there, the overall result was a rollover, according to sources on both sides of the market.
Players commented this week that, in the absence of movement in upstream raw material costs, there is little to justify any revision to current valuations for acetic acid. The feedstock, methanol, is assessed on a quarterly basis and there is presently no impetus from that direction.
The consensus view regarding demand is that it is steady and relatively normal. One buyer, however, remarked that it had forecast good volumes for September and this had not yet materialised.
The assessed spot price range for truck deliveries was stable at €460-500/tonne FD NWE, although, there was little spot activity this week.
($1 = €0.75)
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