US BD producer nominates plus 15 cts/lb for Sep

21 August 2008 22:41  [Source: ICIS news]

HOUSTON (ICIS news)--A US butadiene (BD) producer has nominated an increase of 15 cents/lb ($331/tonne or €224/tonne) for September contracts, market sources said on Thursday.

Two buyers confirmed the initial nomination.

US BD contracts in August settled at $1.10/lb, up by 12 cents/lb compared with July, according to global chemical market intelligence service ICIS pricing.

BD has risen for 10 months in a row, lifted by scarce crude C4 stocks, firm demand and widespread allocation in the US industry.

Contracts were at 55 cents/lb in September 2007.

Three other US producers are expected to unveil their initiatives within the next week, industry sources said.

BD producers include ExxonMobil, Equistar, Shell and Texas Petrochemicals.

($1 = €0.68)

For more on butadiene visit ICIS chemical intelligence

By: William Lemos
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