18 October 2013 16:00 [Source: ICIS news]
LONDON (ICIS)--European vinyl acetate monomer (VAM) monthly contract prices have mainly settled within a range of €805-835/tonne ($1,088-1,128/tonne) in October, remaining steady from September values which had risen slightly from August.
The contracts were concluded on a free delivered (FD) northwest Europe (NWE) basis.
One or two buyers were able to secure a small reduction at the beginning of this month, as demand begins to tail off in the autumn, but subsequent events may have hardened sentiment in the market.
The announcement that INEOS had ceased production at its 300,000 tonne/year plant at Hull in the UK prompted a lot of speculation regarding the supply of VAM in the European market.
Some players thought the market could become tighter as a result of the closure, with the likelihood of higher prices.
However, a consensus emerged that any consequences for supply and pricing will take longer to emerge and no immediate increase in values was foreseen by market sources.
($1 = €0.74)
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|
Asian Chemical Connections