21 December 2010 15:03 [Source: ICIS news]
LONDON (ICIS)--An initial European January butadiene (BD) contract settlement has been agreed at €1,340/tonne ($1,763/tonne), Maurice Kramer, European marketing and sales manager, aromatics and C4s for SABIC, said on Tuesday.
Three major buyers and at least one other major producer were also reported to have agreed at €1,340/tonne, but confirmation was pending.
This agreement, done on a free delivered (FD) northwest Europe (NWE) basis, marks the first industry-wide contract agreement on a monthly basis and reflects a €60/tonne increase from the December monthly contract price (MCP), and a €15/tonne increase from the fourth-quarter contract.
($1 = €0.76)
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