INEOS to hold online auction for butadiene

19 March 2010 12:40  [Source: ICIS news]

LONDON (ICIS news)--INEOS Olefins & Polymers will hold an online sales auction for a 1,000-tonne lot of butadiene (BD) for delivery in April, a company source said on Friday.

“We have a number of customers wanting to buy spot… we think this is the fairest way forward,” the source said.

The European butadiene market had tightened significantly since the start of the year. Supply constraints as a result of planned and unplanned production issues were ongoing, and the Asian and particularly US markets were very strong, which was also affecting domestic and export demand.

The auction, facilitated by Optimal Markets, will take place on 22 March at 15:00 hours GMT. Participation is by invitation and around 12 parties, both consumers and traders, were scheduled to take part.

($1 = €0.73)

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By: Nel Weddle
+44 20 8652 3214

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