FPCC settles Asia August BD up $167/tonne

09 September 2008 08:08  [Source: ICIS news]

SINGAPORE (ICIS news)--Taiwan’s largest olefins producer Formosa Petrochemical Corp (FPCC) has settled its August Asia butadiene (BD) contract price up $167/tonne from July at $2,756/tonne linked to the rise in spot prices, a company official said on Tuesday.

 

It was settled on a pipeline delivered basis, the official added.

 

Taiwan’s BD contract price is settled on a retroactive basis and its pricing formula is linked to the Asian spot price and the US contract price.

 

US August contracts were settled at 110 cents/lb - up 12 cents/lb from July.

 

In Asia, spot prices have rebounded above $3,000/tonne CFR (cost and freight) NE Asia (northeast Asia) after briefly falling below $3,000/tonne CFR NE Asia last month.

 

FPCC’s July contract price was settled at $2,589/tonne pipeline delivered.

 

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By: Helen Yan
+65 6780 4359

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