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Updated to Q1 2017
European ethyl acetate spot prices continued the downward movement they had begun in Q4 during January, falling to a low of €820-900/tonne FD NWE in the second half of the month.
However, prices rose to €940-1000/tonne in the first week of February. This was attributed to increases in feedstocks acetic acid and ethylene. Several importers of ethyl acetate from India sold out of their European stocks during this price increase, as prices had been too low to justify importing additional material.
These importers were also hit by rising freight costs. The earliest restocking shipments from India were expected in mid-March, though one importer said that it was now only importing material for confirmed deals.
Supply was balanced to slightly tight, but as these importers were sold out, there were fewer sources of spot material in Europe than usual for much of the quarter.
Demand was generally seen as healthy, in line with expectations.
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