Europe etac prices stable, Sipchem switches production from etac to butac

06 October 2017 17:55 Source:ICIS News

LONDON (ICIS)--Spot prices on the European ethyl acetate (etac) market were stable this week, according to sources on Friday.

Etac prices were stable at €1020-1050/tonne FD (free delivered) NWE (northwest Europe).

Prices were heard either side of this range, but could not be confirmed in the wider market.

A producer said that rising acetic acid prices were putting upwards pressure on etac prices, though other sources said that prices were unchanged.

Supply was balanced, despite news that Sipchem have switched production at their plant in Jubail, Saudi Arabia from etac to butyl acetate (butac), according to market sources.

The company previously trialled producing butac at the plant in June.

Sources generally did not expect this to tighten the European market, though some sources said that it would reduce available volumes.

Sipchem had not responded to a request for comment at time of publication.

Demand was generally healthy.

However, a distributor said that recent price increases were causing some buyers to delay their purchases in the hope that prices will fall again.

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By Nick Cleeve