NPRA '10: US BD contracts to rise 10% in April to 84 cents/lb

29 March 2010 23:00  [Source: ICIS news]

SAN ANTONIO, Texas (ICIS news)--US butadiene (BD) contracts are poised to rise by 10% in April to 84 cents/lb ($1,852/tonne or €1,370/tonne), market sources said on Monday, pointing to continued tightness and firm demand for the product in the US.

US BD contracts usually settle at the lowest price nominated by the four main US producers, which for April proposed increases ranging from 8 cents/lb to 15 cents/lb.

The market has agreed to an 8 cent/lb increase, sources said on the sidelines of the National Petrochemical & Refiners Association (NPRA) meeting.

BD contracts in March settled at 76 cents/lb, up by 6 cents/lb from February, according to global chemical market intelligence service ICIS pricing.

US BD contracts have risen by 33% since January, including the expected increase in April.

BD is likely to remain on an uptrend in the second quarter, a buyer said, predicting a softening in the following quarter as a result of new capacity in Asia.

The NPRA International Petrochemical Conference (IPC) runs Sunday through Tuesday.

($1 = €0.74)

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By: William Lemos
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