Dow Chemical issues order control letter for VAM.
Dow Chemical has put order controls in place for vinyl acetate monomer, according to a letter to US customers obtained Thursday.
Petrotahlil - The letter dated January 8 said, effective immediately, volumes will be based on previous monthly averages of purchased volumes, or limited to monthly maximum volumes specified in contracts. The letter does not provide details about how long the order control will be in place.
A Dow spokeswoman was not immediately available for comment.
Vinyl acetate monomer is derived from ethylene and acetic acid, and is a precursor to polyvinyl acetate, which is used to make glue.
Earlier Thursday, market sources said LyondellBasell Acetyls declared force majeure on supplies from its La Porte, Texas, facility.
S&P Global Platts last assessed spot VAM at $1,040/mt for export and 50 cents/lb for domestic markets January 9. Price assessments for VAM are published on Thursdays.
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Source :Platts
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