15 July 2011 06:52 [Source: ICIS news]
SINGAPORE (ICIS)--Malaysia’s Titan Chemicals has sold by tender a 2,000 tonne butadiene (BD) cargo to a trader at $4,250/tonne (€3,018/tonne), a company source said on Friday.
The mid-August shipment was sold on an FOB (free on board) Pasir Gudang, Malaysia, basis.
Titan is a subsidiary of Honam Petrochemicals, a major Korean olefins producer.
BD spot prices have soared by about $500/tonne in the past month, according to ICIS data, because of limited supply and strong demand.
BD spot prices were at $3,740-3,800/tonne CFR (cost & freight) northeast (NE) Asia on 17 June, according to ICIS data.
Unplanned cracker outages in Taiwan and Singapore, as well as exports to the US, have curtailed BD supply in Asia and lifted offers to $4,300-$4,370/tonne CFR NE Asia for August shipments.
($1 = €0.71)
Please visit the complete ICIS plants and projects database
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