29 June 2011 23:05 [Source: ICIS news]
HOUSTON (ICIS)--Two North American butanediol (BDO) producers said on Wednesday they have settled some third-quarter contracts up 12 cent/lb ($265/tonne, €186/tonne), coming on the back of tight global supply and strong derivative demand.
The 12 cent/lb increases were in line with producer expectations, taking initial settlements up to 150-164 cents/lb DEL (delivered), pending further confirmation.
The North American BDO market is not fully settled, as some suppliers and consumers are still in the negotiation stages.
A few BDO buyers have said they expect to see increases for the third quarter because of tight global supplies.
The recent BDO force majeure at BASF’s site in Ludwigshafen, Germany and sales control has also put additional upward pressure on the global market.
($1 = €0.70)
For more information on BDO visit ICIS chemical intelligence
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