16 September 2008 04:48 [Source: ICIS news]
SINGAPORE (ICIS news)--South Korea’s Yeochun Naphtha Cracking Center (YNCC) has settled its September butadiene (BD) contract up $40/tonne from August at $3,186/tonne on tight supply, a company official said on Tuesday.
The contract was settled on a pipeline delivered northeast Asia (NE Asia) basis, the official added.
BD spot prices were firm at $3,000-3,300/tonne CFR (cost and freight) NE Asia in August amid a spate of cracker shutdowns.
YNCC, the country’s largest olefins producer, had settled its August BD contract at $3,146/tonne pipeline delivered.
The YNCC contract formula is linked to Asia spot pricing.
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