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 ?xml:namespace>
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)
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