02 February 2010 08:51 [Source: ICIS news]
SINGAPORE (ICIS news)--South Korea’s Yeochun NCC Co (YNCC) has settled its February butadiene (BD) contract price at $1,856/tonne (€1,336/tonne), up $268/tonne from its settlement price in January due to tight supply and strong demand, a company source said on Tuesday.
The price is on a pipeline delivered (DEL) basis. The company had settled its January BD contract at $1,588/tonne pipeline DEL.
“Spot supply is tight and this pushed up the prices,” a trader said.
The spot price is a component in the contract pricing formula used by YNCC and its customers in their monthly contract settlement.
($1 = €0.72)
For more on butadiene visit ICIS chemical intelligence
To discuss issues facing the chemical industry go to ICIS connect
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|