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)
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