04 April 2011 23:03 [Source: ICIS news]
HOUSTON (ICIS)--North American second-quarter butanediol (BDO) contracts have settled at increases of 10 cents/lb ($220/tonne, €154/tonne) on the back of stronger feedstock prices, globally tight supply and strong demand, producers said on Monday.
The increase puts price settlements at 138-159 cents/lb DEL (delivered), as assessed by ICIS.
Buyers have not yet confirmed the increases, but said 10 cent/lb gains were likely.
The initial increases were in line with producer expectations and price initiatives at 10 cents/lb for the quarter. One producer reportedly came out with a 15 cent/lb price initiative, with a 5 cent/lb TVA (temporary voluntary allowance).
Major North American BDO producers include BASF, International Specialty Producers (ISP) and LyondellBasell.
($1 = €0.70)
For more on BDO visit ICIS chemical intelligence
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