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CHEM-NET FACTS

1 NOVEMBER 2013

CHEMICAL MARKET INSIGHT AND FORESIGHT - ON A SINGLE PAGE

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Acetic Anhydride
US acetic anhydride prices remained flat in
the first half of October, but later in the month
market conditions began to change. Spot
methanol prices jumped up to 160 c/gal during
the week of 21-25 October, and November
methanol contract prices were settled up 15
c/gal to 174-180 c/gal by major producers.
Celanese issued an 8% price increase for core
grades of acetate tow, effective 1 January
2014, on an FOB plant basis. Consumers
have resisted price increase attempts during
2013, but pressure from feedstock prices
was increasing. Eastmans internal acetic
anhydride consumption will increase in 2014
as the company plans to expand its Triton
copolyester capacity.

Sep-2013
/lb
84.00-87.00
/ton
930-950
Rmb/ton
4800-4900

US PRICES
Domestic
WEST EUROPE PRICES
Domestic Bulk
ASIA PRICES
China Domestic

Oct-2013
/lb
84.00-87.00
/ton
930-950
Rmb/ton
4800-4900

Oct-2013
$/ton
1852-1918
$/ton
1269-1296
$/ton
786-803

DDP
DDP
EXW

Short-Term
Price Trend

Rmb/ton prices include VAT at 17%

US Dollars per Ton

ACETIC ANHYDRIDE PRICES : 2 YEAR SPAN

2250
2000
1750
1500
1250
1000

Europes acetic anhydride prices for Q3 were


settled at a rollover compared to the second
quarter, continuing a market trend stretching
back over almost two years. Even though there
were no official price increases announced for
October, one acetic anhydride consumer said
it expected producers will use the feedstock
prices as justification for an increase during
Q4. The two key raw materials for acetic
anhydride acetic acid and methanol were
beginning to increase in October. The Q4
methanol contract price increased to 408/
ton fob Rotterdam, up 18/ton compared to
the Q3 total, and acetic acid spot prices were
also increasing.
In China, acetic anhydride prices increased
slightly in October due to upstream feedstock
price increases. Although the price increased,
high feedstock prices and sluggish demand
meant profits were not good during October
and the average operating rate decreased to
around 30%. At the end of October, the acetic
anhydride price in East China was Rmb49005000/ton ex work, Rmb5200-5250/ton
delivered in Middle China while Rmb50005100/ton delivered in North China.

750
500

In Conversion to US$ the 17% VAT Element in Chinese Rmb Prices has been Excluded for Comparative Purposes

250
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c
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b
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M

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Product

Location

Definition

Acetic Anhydride
Acetic Anhydride
Acetic Anhydride

United States
West Europe
China

Domestic DDP
Domestic Bulk DDP
Domestic EXW

US Dollars per Ton

c
De

20

13

b
Fe

ar
M

r
Ap

ay
M

n
Ju

l
Ju

g
Au

p
Se

ct

ACETIC ANHYDRIDE PRICES : 10 YEAR SPAN

2250
2000
1750
1500
1250
1000
750
500
In Conversion to US$ the 17% VAT Element in Chinese Rmb Prices has been Excluded for Comparative Purposes

250
2004

2005

2006

2007

2008

2009

Product

Location

Definition

Acetic Anhydride
Acetic Anhydride
Acetic Anhydride

United States
West Europe
China

Domestic DDP
Domestic Bulk DDP
Domestic EXW

2010

2011

2012

2013

Short-Term Price Trends


US anhydride prices expected to remain flat
in Q4.
Europe market seen as unchanged at the end
of 2013.
Chinas prices increasing due to costs.

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