01 October 2013 21:26 [Source: ICIS news]
HOUSTON (ICIS)--US ethyl acetate (etac) prices rolled over for the month, continuing the long 2013 trend of little movement, sources said on Tuesday.
There is sentiment from some buyers, however, that potential increases in methanol could pressure acetic acid prices down the road, which could increase etac prices as well. Acetic acid sources, however, said this week they had not heard of any upcoming increases.
The last acetic acid price increases occurred earlier this year. After that, etac producers attempted to raise prices, but those nominations failed.
A source said this week that acetic acid producers are likely going to take a wait-and-see approach to methanol increases, seeing how they affect rates. They will then debate whether to seek etac increases as well, the source said.
Sources said this week that they expected etac to remain quiet in the near future but added that producers will be looking closely at any acetic acid and methanol movement.
Etac prices are currently assessed at a range of 80-84 cents/lb ($1,764-1,852/tonne, €1,305-1,370/tonne) for contract, 80-86 cents/lb for distributor and 76-80 cents/lb for spot.
Major US etac producers include Eastman Chemical and Ashland.
($1 = €0.74).
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