02 July 2010 03:54 [Source: ICIS news]
SINGAPORE (ICIS news)--South Korea’s Yeochun NCC (YNCC) has settled its July butadiene (BD) contract at $1,985/tonne (€1,588/tonne), down $198/tonne from its settlement in June due to surplus supply, a market source said on Friday.
The price is on a pipeline delivered (DEL) basis. In June, the company settled its BD contract at $2,183/tonne DEL.
Surplus supply due to the recent start-up of Zhenhai Refining and Chemicals Co's new 165,000 tonne/year BD extraction unit in Ningbo, China, exerted downward pressure on prices, market sources said.
($1 = €0.80)
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