06 January 2010 00:22 [Source: ICIS news]
HOUSTON (ICIS news)--The January US butadiene (BD) contract was expected to slide 2 cents/lb ($44/tonne or €30/tonne) to settle at 63 cents/lb, following nominations by four producers, a buyer said on Tuesday.
The nominations for the January BD contract ranged from a 3-cent/lb increase to a 2-cent/lb decrease.
The US BD contract settles at the lowest of the producer nominations.
The other two nominations were for an increase of 1 cent/lb, and for a rollover with the December settlement. The December contract slid 3 cents/lb to settle at 65 cents/lb.
The February BD settlement is likely to begin climbing again on strength in the Asian BD market, said a producer of styrene butadiene rubber (SBR).
“Demand in Asia is creating some export opportunities for US BD producers, and I expect domestic prices will begin heading up again soon,” the producer said.
US BD producers include ExxonMobil, INEOS, LyondellBasell, Shell and Texas Petrochemicals (TPC). Buyers include Invista, International Specialty Products (ISP), Lanxess, Michelin and Negromex.
($1 = €0.69)For more on butadiene visit ICIS chemical intelligence
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