Full US BDO settlements expected soon

22 October 2010 22:08  [Source: ICIS news]

HOUSTON (ICIS)--Initial US fourth-quarter butanediol (BDO) contracts emerged this week with increases of 3-4 cents/lb ($66-88/tonne, €48-63/tonne) and settlements are expected to be finalised next week, market participants said on Friday.

The initial settlements put prices at 124-146 cents/lb.

The early settlements were below producer price initiatives of 5 cents/lb.

The price initiatives were lead by the two producers who earlier in the year declared force majeures (FM)BASF and LyondellBasell.

Remaining contracts negotiations were still in flux because of Asia supply instability seen in recent weeks.

Major US BDO suppliers include BASF, Invista, International Specialty Products (ISP) and LyondellBasell.

($1 = €0.72)

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By: Brian Balboa
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