22 July 2009 22:31 [Source: ICIS news]
HOUSTON (ICIS news)--A US butadiene (BD) producer on Wednesday nominated an increase of 17 cents/lb ($375/tonne, €263/tonne) for August contracts, market sources said.
The nomination followed an initiative for an 18-cent/lb increase put forward by another producer earlier this week.
BD contracts in July settled at 45 cents/lb, up by 14 cents/lb from June, according to global chemical market intelligence service ICIS pricing.
US BD contracts usually settle at the lowest price nominated by the four main producers.
The two remaining US producers are expected to unveil their nominations in the coming days.
US BD producers include Texas Petrochemical (TPC), ExxonMobil, LyondellBasell, Shell and INEOS. Buyers include Michelin, Lanxess, Invista and Negromex.
($1 = €0.70)
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