01 April 2011 00:01 [Source: ICIS news]
HOUSTON (ICIS)--The US butadiene (BD) contract settled in a split settlement for April, with three producers settling up 17 cents/lb ($375/tonne, €266/tonne) and a fourth producer settling up 19 cents/lb, a buyer said on Thursday.
It was the fifth split settlement since September 2010, and it put April contract prices at $1.21/lb and $1.23/lb. The March BD settlement was $1.04/lb.
The larger-than-expected gains were driven by several market drivers, including slim crude C4 exports out of ?xml:namespace>
“I think BD prices will continue to register strong settlement gains if supply remains as tight as it is right now,” a domestic producer said.
A buyer said: "I’m not concerned about April demand, but if BD prices continue to run up like this, we’ll have to see what will happen.”
US BD producers include ExxonMobil, INEOS, LyondellBasell, Shell and TPC Group.($1 = €0.71)
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