27 July 2010 17:24 [Source: ICIS news]
HOUSTON (ICIS news)--A US butadiene (BD) producer said on Tuesday it nominated a rollover for its August contract as increased imports alleviated what had been a tight supply.
US BD contracts in July settled at 94.00 cents/lb ($2,072/tonne, €1,595/tonne), an increase of 2 cents/lb from June.
A rollover would be the first time in six months that BD contracts have not increased. Two other producers nominated 2-5 cents/lb in price hikes for August BD contracts.
US BD contracts usually settle at the lowest price nominated by the four main US producers.
BD supply has been extremely tight during the first half of the year. Imports from Asia have been arriving recently, forcing US suppliers to soften their price ideas to compete.
US BD producers include ExxonMobil, INEOS, LyondellBasell, Shell and TPC Group. Buyers include Invista, International Specialty Products (ISP), Lanxess, Michelin and Negromex.
($1 = €0.77)
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