Europe December butadiene agreed down by €200/t at €1,650/tonne

29 November 2011 17:42  [Source: ICIS news]

LONDON (ICIS)--The European December butadiene (BD) contract price has been agreed down by €200/tonne at €1,650/tonne ($2,200/tonne), a major producer said on Tuesday.

A decrease had been widely expected given the ongoing weak derivative demand which had seen spot numbers remain considerably below contract values.

But the discussions were tougher than had been anticipated amid differing views over maintaining parity with the US market, while at the same time counteracting strong competition from Asian derivatives.

A major consumer also confirmed the agreement while confirmation from other contract producers and consumers is still pending.

The contract is agreed on a free delivered (FD) northwest European (NWE) basis.

($1 = €0.75)

For more on butadiene visit ICIS chemical intelligence

By: Nel Weddle
+44 20 8652 3214

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