UpdateEurope Nov BD hits €1,290/t, €60 down

24 October 2008 13:07  [Source: ICIS news]

(adds producer confirmation and detail throughout)

LONDON (ICIS news)--The European butadiene (BD) November monthly contract price (MCP) has been agreed down €60/tonne ($77/tonnne) from October on continued falling naphtha values and an easier supply and demand balance, a buyer said on Thursday.

The settlement at €1,290/tonne FD (free delivered) NWE (northwest Europe) was confirmed by the participating producer.

Another consumer participates in the MCP but had yet to signal its acceptance of the number.

Cracker rate reductions, made in an attempt to counteract very poor ethylene demand, were expected to go some way to offsetting any weakness in butadiene derivative demand.

Fourth-quarter contract prices recently settled at €1,320/tonne FD NWE, up €60/tonne.

($1 = €0.78)

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By: Nel Weddle
+44 20 8652 3214

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