– VAM prices, imports steady
– AA Asia export price softens
AA: No changes were heard in the European acetic acid balance and the market was assessed stable on the week at Eur700/mt FD NWE on Friday, within a wide price range heard of Eur660-700/mt. “European prices are more or less stable. However this might change in the coming weeks,” a trader said. Demand remained firm this week and sources expect AA prices to pick up. April plant turnarounds in Asia are supporting prices, sources said. However, AA prices fell in Asia this week on high Chinese inventories, sources said Friday. CFR Far East Asia price was $460/mt Friday, $10/mt lower week on week, while the AA China price was assessed down $15/mt at $415/mt, below offers heard at $415-$420/mt FOB China. In the US, acetic acid prices rose slightly on the week on stronger upstream methanol pricing. US prices were assessed at 27.5 cents/lb ($606.1/mt) delivered, while export prices were assessed at $588/mt FOB USG, also higher.
VAM: The European vinyl acetate monomer market was also stable, with prices assessed at Eur860/mt Friday, flat week on week. Demand was steady, while imports did not increase, despite the duty free quota. No imports were seen from US and Asia due to uncompetitive prices. Russian material had a competitive advantage for delivery to Asia or Africa, a buyer said. Asian VAM prices were assessed stable on the week in a quiet market. CFR China was assessed at $900/mt Friday, flat to last week. US VAM domestic prices were flat on the week, with the domestic and export price assessments at 49 cents/lb ($1,079.96/mt)and $930/mt FOB USG, respectively, with limited changes in upstream acetic acid and ethylene markets.
S&P Global assessed acetic acid spot truck prices at Eur700/mt FD NWE on Friday, stable on the week. The product was heard pegged in a Eur660-700/mt range by market participants. Acetic acid FOB NWE was assessed at $780/mt, also stable and in line with the FD price. Vinyl acetate monomer spot trucks were also assessed flat on the week at Eur860/mt FD NWE Friday and in line with indications at Eur820-880/mt. FOB NWE VAM was assessed at $960/mt, in line with the FD price.