– VAM prices move up marginally
– AA Asia export price unchanged
AA: The European acetic acid market was stable week on week in thin trading. AA was assessed at Eur700/mt FD NWE on Friday. The vast majority of market participants put AA value around Eur700/mt, with lower end of the range indicated at mid to high Eur600s/mt by a trader. “Demand is fine and nobody seems to be forced to sell material,” a trader said. “Prices are expected to pick up again by mid of April,” the trader added. However, a feeling that logistical issues in Houston, on the back of the fire in ITC Terminal in Deer Park last week, might affect AA prices globally, a producer said. AA was also unchanged in Asia this week, despite lower methanol prices, on a few turnarounds in Northeast Asia. The CFR Far East Asia price was at $450/mt Friday and AA China price was assessed also stable at $400/mt.
VAM: European vinyl acetate monomer market was heard higher on the week with prices assessed at Eur885/mt Friday, up Eur20 from a week earlier. “Prices picking up a bit, like Eur20-Eur30, not as much as we were expecting,” a trader said. While supply is sufficient the expected seasonal increase in prices drove values higher according to sources. “Customers are whiling to pay a bit more as they expect prices to pick up,” a second trader said. VAM was also heard steady to higher in Asia this week on relatively tighter supply from Southeast Asia and China. However, CFR China was assessed stable on the week at $920/mt Friday.
S&P Global Platts assessed acetic acid spot truck prices at Eur700/mt FD NWE on Friday, unchanged on the week. The product was heard pegged at around that level 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 assessed up Eur20 on the week at Eur885/mt FD NWE Friday and in line with source indications in a Eur845-Eur895/mt range. FOB NWE VAM was also assessed up $22 at $987/mt, in line with the FD price movement.