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Updated to Q4 2017
INEOS, the largest producer in Europe, had a limited presence in the spot market during November and December, according to sources. Celanese remained on sales control for acetic acid and its derivatives for much of the quarter, although this ended in early December. Imports were also limited towards the end of the year. Etac prices in Asia rose significantly in the second half of 2017, making European prices less attractive for exporters. Despite these limitations, supply remained largely balanced due to seasonally quieter demand.
Demand was healthy during October and November, but fell in December. This was in line with players’ expectations for a typically quiet month ahead of the Christmas and New Year holidays. Demand was stronger than expected in late December caused by expectations that prices would rise sharply in the new year after Celanese announced that it would target a €150/tonne increase to its prices from 1 January.
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ICIS price assessments are based on information gathered from a wide cross-section of the market, comprising consumers, producers, traders and distributors from more than 250 reporters world-wide. Confirmed deals, verified by both buyer and seller, provide the foundation of our price assessments.
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