02 November 2010 23:59 [Source: ICIS news]
LONDON (ICIS)--Fourth-quarter European contracts for butanediol (BDO) settled at €1,770-1,900/tonne ($2,458-2,639/tonne), compared with €1,750-1,900/tonne from the third quarter, producers and consumers said on Tuesday.
The BDO contract price was settled on a free delivered (FD) northwest Europe (NWE) basis.
The majority of business was agreed in the high €1,700s/tonne to mid €1,800s/tonne, sources said.
A few players said they had settled at values above €1,900/tonne and a few had settled at levels lower than €1,750/tonne but the consensus fell within the published range.
One buyer said, “€1,750 is too low. This number doesn’t exist [in the market] anymore,”
Most players said fourth-quarter contracts had settled at a rollover, with some settling at increases of €40/tonne.
“We had been expecting a rollover but the supplier pushed for an increase,” one buyer said.
A producer said: “Demand is still strong. The outlook is good for November. There will be a slowdown towards the end of the year but I expect production to pick up in January.”
($1 = €0.72)
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