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)
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