European trucks market stable

AA: The European acetic acid market Wednesday was unchanged from a week ago at Eur710/mt FD NWE, with some sources seeing small downward pressure. However, this was not fully corroborated by all market participants. “We have not seen prices dropping further since last week,” a producer said. General sentiment was that supply and demand remained firm. “The market is still balanced, and we don’t expect this to change in the coming weeks,” a trader said. Asian acetic acid export prices remained steady on the week amid the Lunar New Year break, but are expected to pick up next week. CFR Far East Asia price was assessed flat week on week at $445/mt Wednesday; similarly, FOB China was assessed flat at $401/mt. In the US last week the domestic price fell again despite firmer pricing seen upstream in methanol and was assessed at 26.5 cents/lb ($584.06/mt) delivered, down 3 cents/lb on the week, while export prices were assessed at $566/mt FOB USG, down $66/mt.

VAM: European vinyl acetate monomer was assessed at Eur900/mt Wednesday, steady on the week on a well-supplied but stable market. “I haven’t seen many changes since last week,” a trader said, adding that market was fairly balanced. Ample supply since the beginning of the year remained but a trader said availability was expected to fall within the next 10 days to two weeks, leading to an even more balanced market status. On the demand side, sources were keeping an eye on the end of the month. “There is a seasonality and I expect [buying interest] to pick up towards of the end of February-early March, when the painting industry is perking up,” another trader said. Asian VAM prices were unchanged on the week in thin trade, but with some pressure expected, especially for ethylene-based VAM producers, sources said. CFR China was assessed at $930/mt Wednesday, stable week on week in a muted market. US VAM domestic prices were relatively stronger on the week at 49 cents/lb ($1,079.96/mt), in line with trade levels heard from sources, while export prices were assessed up $23/mt on the week at $930/mt FOB USG.


S&P Global Csg assessed acetic acid spot truck prices at Eur710/mt FD NEW Wednesday, unchanged on the week. Product was heard pegged in a wide range of Eur680-740/mt FD NWE. Acetic acid FOB NWE was assessed at $790/mt, also flat and in line with the FD price. Vinyl acetate monomer spot trucks were assessed steady on the week at Eur900/mt FD NWE Wednesday and in line with source indications in a Eur850-920/mt range. FOB NWE VAM was also assessed stable at $1,000/mt, in line with the FD price.

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