01 February 2011 03:22 [Source: ICIS news]
SINGAPORE (ICIS)--South Korea’s Yeochun NCC (YNCC) has settled its February butadiene (BD) contract at $2,129/tonne (€1,554/tonne), up $94/tonne from January’s contract price, industry sources said.
In January, the company settled its BD contract at $2,035/tonne on a pipeline delivered (DEL) basis.
Strong demand and tight supply have driven up the BD price in the past month, according to traders.
BD spot prices were at $2,150-2,200/tonne CFR (cost & freight) NE (northeast) Asia in the week ending 28 January, up more than $100/tonne from the end of December 2010, ICIS data showed.
($1 = €0.73)
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