04 January 2010 21:46 [Source: ICIS news]
HOUSTON (ICIS news)--A US butadiene (BD) producer nominated a 3-cent/lb ($66/tonne, €46/tonne) increase for the January contract, a buyer said on Monday.
The increase, if it holds, would result in a January BD settlement of 68 cents/lb and would effectively reverse the 3-cent/lb decline in the December contract.
The downward move in December was the first time since March that the BD contract settled lower.
BD contracts climbed higher beginning in the second quarter of 2009 on steady demand and tight supply.
Other BD nominations for January had not been heard. The BD contract generally settles at the lowest of four nominated prices.
US BD producers include ExxonMobil, INEOS, LyondellBasell, Shell and Texas Petrochemicals (TPC). Buyers include Invista, International Specialty Products (ISP), Lanxess, Michelin and Negromex.
($1 = €0.70)
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|