26 January 2012 22:08 [Source: ICIS news]
HOUSTON (ICIS)--A US butadiene (BD) producer on Thursday nominated a 13-cent/lb ($287/tonne, €218/tonne) increase for February, undercutting two other suppliers that were seeking increases of 18 and 25 cents/lb for next month.
The 13-cent/lb initiative, which puts BD contracts next month at $1.18/lb, is based on a contract price of $1.05/lb for January.
The two other proposed increases, one of which is based on a contract price of $1.12/lb this month, would take BD in February to $1.30/lb.
One final US producer is expected to step out with its initiative by the end of the week.
The February increase in the US will extend gains from January, when US BD prices snapped a four-month downtrend during which prices fell by 44% on supply pressure and weak demand.
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