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)
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|
Asian Chemical Connections