10 April 2012 05:23 [Source: ICIS news]
SINGAPORE (ICIS)--South Korea’s Yeochun NCC (YNCC) has settled its March butadiene (BD) contract at $3,476/tonne (€2,642/tonne), down by $329/tonne from the previous month, a company source said on Tuesday.
In February, the contract price settlement was $3,805/tonne pipeline DEL (delivered).
YNCC’s monthly contract price settlement is based on the average spot BD prices for the same month.
BD spot prices have been under downward pressure from weak demand as several downstream synthetic rubber plants in Asia have either been shut for maintenance or are operating at reduced rates.
BD spot prices were at $3,500-3,550/tonne CFR (cost & freight) northeast (NE) Asia in the week ended 6 April, down from $3,900-4,000/tonne CFR NE Asia in the week ended 10 February, ICIS data showed.
($1 = €0.76)
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