23 September 2011 16:08 [Source: ICIS news]
LONDON (ICIS)--The European butadiene (BD) contract for October has settled at €2,100/tonne ($2,838/tonne), down by €300/tonne on the back of softening demand and lengthening availability, a major consumer said on Friday.
The settlement has been directly confirmed by one other major consumer and two major producers.
A sizeable decrease was widely expected as increasing supply because of weakening demand has seen spot values drop significantly from the historical peaks seen in June.
The contract is settled on a free delivered (FD) northwest Europe (NWE) basis.
($1 = €0.74)
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