23 April 2009 21:53 [Source: ICIS news]
HOUSTON (ICIS news)--US butadiene (BD) producers nominated increases of 2 cents/lb ($44/tonne or €34/tonne) for May, initially sending contracts to 27 cents/lb next month, market sources said on Thursday.
According to buyers, three producers nominated 27 cents/lb. A fourth supplier was yet to release its nomination, sources said.
Confirmation was not immediately available on the production side.
BD contracts in April settled at 25 cents/lb, unchanged from March, according to global chemical market intelligence service ICIS pricing.
US BD is now at its lowest level in almost seven years.
BD producers include Texas Petrochemical (TPC), ExxonMobil, Equistar, Shell and INEOS. Buyers include Lanxess, Invista, Michelin and Negromex.
($1 = €0.77)
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