29 April 2011 17:55 [Source: ICIS news]
HOUSTON (ICIS)--US butadiene (BD) producers nominated May contract prices at increases of 19-22 cents/lb, sources said Friday, potentially pushing prices to record highs for a fourth consecutive month.
Two producers nominated May contract prices of 141 cents/lb ($3,109/tonne, €2,083/tonne), a third producer nominated a price of 144 cents/lb and a fourth producer nominated a price of 145 cents/lb.
The US BD contract price for April is assessed by ICIS at 122-123 cents/lb FOB (free on board).
The biggest factor pushing BD prices up tight supply. Two ?xml:namespace>
Demand for BD and BD derivatives remains strong, a buyer said.
Historically, the US BD contract was settled at the lowest of the four prices from the major
Since that time, all but two settlements have been split, breaking a pattern that had lasted for more than 10 years.
($1 = €0.67)
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