22 December 2011 16:29 [Source: ICIS news]
LONDON (ICIS)--The European butadiene (BD) contract price for January has been agreed at €1,700/tonne ($2,208/tonne), up by €50/tonne from December, a major producer said on Thursday.
Prices rose on the back of expectations of improved demand amid supply constraints because of ongoing ethylene-driven cracker reductions.
The contract, which is agreed on a free delivered (FD) northwest Europe (NWE) basis, has been confirmed by two major producers.
Confirmation from two key consumers is still pending, although a third major consumer has said it would be following the €1,700/tonne agreement.
($1 = €0.77)
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