US acetic acid export prices drop $20/tonne on lifting of FM

05 August 2014 21:31 Source:ICIS News

HOUSTON (ICIS)--US acetic acid FOB (free on board) export prices fell by $20/tonne during the past week in response to the lifting of a force majeure late last week, sources said on Tuesday.

Sources said LyondellBasell's lifting of a force majeure on acetic acid late last week had not prompted any large price changes yet, but a few buyers noted that the bottom end of the range had turned slightly lower.

As assessed by ICIS, US acetic acid FOB export prices slipped to $700-$745/tonne, from $720-745/tonne previously.

LyondellBasell on 1 August lifted a force majeure declared in June on US acetic acid, according to a letter sent to customers.

Sources said for the last two weeks of July that the producer’s 544,000-tonne acetic acid unit in La Porte, Texas was running and that the declaration would be lifted in early August.

LyondellBasell declared force majeure on acetic acid in early June because of utilities and feedstock supply disruptions.

Besides LyondellBasell, other major US acetic acid producers include Celanese, Eastman Chemical and BP.

By Lane Kelley