LyondellBasell has lifted force majeure on deliveries of acetic acid in Europe as raw material and feedstock issues at its 544,000 mt/year acetic acid unit in LaPorte, Texas, have been resolved, as per a company source in Platts. LyondellBasell Europe receives AA supplies from its US arm. The company declared force majeure on European AA supplies in the second week of June.
Looking ahead, "the situation is tight even in light of this. We are not seeing a lot of material from Asia, so I think August is pretty much set. I expect movement in September, but the direction depends on how well product flows from Asia," a trader said.
Another source anticipated lower prices in August, citing the annual dip in demand during the holiday season.