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US ethyl acetate (etac) distributor prices rose 2 cents/lb ($44/tonne, €31/tonne) during the past week as Eastman Chemical put customers on sales control, the company said.

Buyers reported sales control percentages of 90% and 100%.

An Eastman spokeswoman would not comment on the percentages involved, saying only that the company’s etac business “has seen a recent surge in demand and has put control measures in place to manage inventory and satisfy customers and contract obligations”. 

In late July, Eastman issued a proposal for a 5 cents/lb increase on various etac grades to take effect on 5 August.

Etac prices rose 5-6 cents/lb in June across all ranges on higher raw material costs, particularly on higher industrial ethanol costs, sources said.

US ethylene spot prices rose during the past week on production issues at Texas crackers and the likelihood of increased demand in the coming months as a result of scheduled cracker maintenance.

Ethylene for July traded at 62.00-63.50 cents/lb DEL, compared with 59.50-61.50 cents/lb in the previous week.

($1 = €0.70)

This week on ICIS news ( www.icis.com):

29-Jul-11 21:12 Eastman's Sterling purchase to keep long-term acetic tie with BP

29-Jul-11 00:22 US methanol contract prices almost reach 3-year high on outages

28-Jul-11 23:05 US Methanex says outages, supply issues raising methanol prices

28-Jul-11 05:20 Methanex Q2 net profit nearly triples on strong methanol prices

27-Jul-11 19:50 Methanex nominates 138 cents/gal for August US methanol, up 8%