NewsFlashFirst Euro Q1 butadiene CP down Euro45/tonne

05 January 2006 14:44  [Source: ICIS news]

LONDON (ICIS news)--The first Q1 European butadiene (BD) contract has been agreed at Euro770/tonne, down Euro45/tonne from Q4’s Euro815/tonne, a key BD consumer said on Thursday.

This agreement, made on a FD (free delivered) Northwest Europe (NWE) basis, was between a Belgian-headquartered producer and a key German consumer and was fully confirmed by the two parties.

A decrease was widely anticipated in the industry in line with those seen on Q1 ethylene (C2) and propylene (C3) contracts, which settled at Euro785/tonne FD NWE,  down Euro40/tonne and Euro25/tonne respectively.

At least two other producers signalled their support of this settlement. However, some resistance was anticipated from other consumers, which had been pushing for a greater reduction based on softer naphtha values and difficulties recovering costs downstream.

By: Nel Weddle
+44 20 8652 3214

AddThis Social Bookmark Button

For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.

Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.

Printer Friendly