Acetic acid, a clear colourless liquid with a pungent odour, is used as a chemical intermediate and solvent with widespread applications throughout industry. The vinyl acetate monomer (VAM) sector consumes 44% of the world consumption of acetic acid. Many VAM plants are integrated with acetic acid facilities. In the United States VAM comprises 60% of the acetic acid commercial output. End-uses for VAM include paints, adhesives, textiles, paper, films, and chewing gums.
The production of purified terephthalic acid (PTA) is the second largest outlet in Asia, consuming 18% of acetic acid production. It is also the fastest growing sector, pulled by strong demand for polyethylene terephthalate (PET) bottles and polyester fibres. Di-methyl terephthalate (DMT) and Purified terephthalate (PTA) account for eight% of the acetic acid production in the US, going downstream to PET solid state resins and films.
Acetic anhydride, used for cellulose acetate/filter tow for cigarettes; plastics; coatings; pesticides; and pharmaceuticals takes up 15% of the acetic acid output. Acetate esters (ethyl acetate and butyl acetate) account for 10%, primarily used in paints and coatings. The remaining portion of acid production is utilized by chloroacetic acid and other such acids, moving downstream to end-uses in di-ketene production for pharmaceutical and industrial applications.
ICIS pricing quotes acetic acid in Europe, Asia-Pacific, China and the US Gulf.
Frequency:
Published weekly on Fridays.
Acetic Acid (EUROPE)
Weekly Price Assessments:
Acetic Acid Contract prices
Acetic Acid Spot prices
Acetic Acid Feedstock prices
Acetic Acid (ASIA-PACIFIC)
Weekly Price Assessments:
Acetic Acid Spot Prices
Acetic Acid (China)
Weekly Price Assessments:
Acetic Acid Spot Prices
Acetic Acid (US GULF)
Weekly Price Assessments:
Acetic Acid Feedstock prices
General Information
Assessment window: Assessments are based on information supplied by market participants through the week (Monday – Friday) up to the close of business at 1700 hours London, Singapore, Shanghai or Houston time.
Specification: ICIS pricing quotes product except in China that is minimum acetic acid content of 99% and max water content of 0.15% by weight. Pricing quotes in the domestic Chinese market are up to GB/T1628.1-2000 or ASTM D3620-1994 standards.
Timing: In Asia and the US, deals assessed typically have a loading time of two to six weeks from publication, and Letters of Credit with maximum 90 days validity. European spot FD assessments reflect business done for the current month.
Terms: 30-60 days after bill of lading date.
Standard Cargo Size: In Europe, the FD NWE T2 quote reflects typical truck sizes of 20-35 tonnes. The CFR N.E. Asia price quote reflects trades of 1,000-2,000 tonnes cargoes to major ports, the CFR S.E. Asia price quote reflects trades of 500-2,000 tonnes. The yuan (CNY) ex-tank East China quote reflects typical cargo sizes above 30 tonnes. There are no specific sizes integrated into the US Gulf FOB range. US domestic placements go via truck and rail (
Assessment basis: Acetic Acid price assessments are based on reported business and bids-offers heard throughout the week.
In Europe, the FD NWE quarterly contract gross prices typically define 15,000-30,000 tonnes/year sized accounts settled on a quarterly basis. Bulk parcels referred to from time to time in the text are usually around 1,000 tonnes.
There is no contract price band published in the United States. The US market comprises four producers, each of which is vertically integrated between Acetic Acid and vinyl acetate monomer (VAM).
In Asia, domestic prices in China, Taiwan, Korea and India may be taken into consideration in the final assessment as an indication of general market conditions. Also in Asia, ex-tank sales in Singapore and Malaysia are taken into consideration in the final assessment as an indication of general market conditions.
Prices in East China refer to the maximum and minimum prices in Jiangsu, Zhejiang and Shanghai. Jiangsu and Shanghai prices are based on ex-tank prices at Shanghai, Jiangyin and Nantong ports and ex-works prices of major acetic acid producers in Shanghai and Jiangsu. Zhejiang prices are based on ex-tank prices at Ningbo port. The maximum and minimum prices are based on transaction prices for a single deal with the minimum trading volume of 30 tonnes.
South China prices refer to ex-tank prices at major ports in Zhuhai and Guangzhou, taking transaction prices for a single deal with the minimum trading volume of 30 tonnes for reference.
North China prices refer to delivered prices of major acetic acid producers in East China and Northeast China, taking transaction prices for a single deal with the minimum trading volume of 30 tonnes for reference.
Northeast China prices refer to ex-works prices of local acetic acid producers, taking transaction prices for a single deal with the minimum trading volume of 30 tonnes to customers in Heilongjiang, Jilin and Liaoning for reference.
All regional reports offer market commentary that includes details of traced transactions, news on the supply/demand balance, export/import information, contract price negotiations and general sentiment for price direction. Where applicable there is product information, comments on up and downstream market developments and general market intelligence.
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