FPCC Asia September BD contract falls $101/tonne

09 October 2008 03:59  [Source: ICIS news]

SINGAPORE (ICIS news)--Taiwan’s largest olefins producer Formosa Petrochemical Corp (FPCC) has settled its September Asia butadiene (BD) contract price at $2,655/tonne,  $101/tonne lower than the previous month's deal as spot prices continued to slip, a company source said on Thursday.

 

It was settled on a pipeline delivered basis, the source 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.

 

Although US September contracts were settled 8 cents up at 118 cents/lb, the Asian spot prices dropped by about $200/tonne the past month to around $2,900tonne CFR (cost and freight) NE Asia (northeast Asia) at the end of September.

 

FPCC’s August contract price was settled at $2,756/tonne pipeline delivered.

 

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By: Helen Yan
+65 6780 4359

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