The US acetic acid spot price hit a 13-year high this week on the back of supply constraints, force majeure, price increases and a strong stable methanol market.
The AA spot price was assessed Thursday at $1,055-$1,065/mt FOB USG, up $110/mt on the week. It reached the highest level since October 2005, according to S&P Global Platts data.
One producer declaring force majeure, a second producer undergoing a turnaround and price increases from a third producer, all coupled with strong feedstock pricing were the main drivers for the price rise.
Acetic acid supplier BP declared force majeure at its Eastman Chemical Texas City, Texas City, facility after not being able to successfully restart following a planned turnaround, the company said in a letter to customers.
The US acetic acid spot price hit a 13-year high this week on the back of supply constraints, force majeure, price increases and a strong stable methanol market.
The AA spot price was assessed Thursday at $1,055-$1,065/mt FOB USG, up $110/mt on the week. It reached the highest level since October 2005, according to S&P Global Platts data.
One producer declaring force majeure, a second producer undergoing a turnaround and price increases from a third producer, all coupled with strong feedstock pricing were the main drivers for the price rise.
Acetic acid supplier BP declared force majeure at its Eastman Chemical Texas City, Texas City, facility after not being able to successfully restart following a planned turnaround, the company said in a letter to customers.
