LONDON (ICIS)--European spot prices for ethyl acetate (etac) have continued to fall.
Etac prices were assessed at €1220-1240/tonne FD (free delivered) NWE (northwest Europe) - a decrease of €30-40/tonne.
Prices have been falling, as supply in northwest Europe returns to a balanced condition.
Availability of material has been improved by imported volumes from China and India and an increased presence from INEOS on the spot market compared with August.
The major producer is yet to return to normal levels of activity following a maintenance turnaround, according to sources.
INEOS did not comment on its production rates or spot availability.
Demand was quiet, with sources saying that it was below their expectations for this time of the year.
Sources attributed low demand to buyers purchasing only necessary volumes in anticipation of supply lengthening and prices falling when INEOS' level of activity in the spot market returns to normal.
A producer also said that expectations that feedstock acetic acid prices will fall and reduced costs will be passed through to etac prices was discouraging buyers from fully restocking.
Etac is used in coatings, pharmaceuticals and solvents.