Initial US May butadiene nomination comes in at 1.9% drop

24 April 2012 18:00  [Source: ICIS news]

HOUSTON (ICIS)--The first nomination for the US May butadiene (BD) contract was heard at a drop of 1.9%, sources confirmed on Tuesday.

A US producer nominated a May contract price of $1.59/lb ($3,505/tonne, €2,664/tonne) FOB (free on board).

The producer previously settled its April contracts at $1.62/lb. US April BD contracts settled at $1.52-1.55/lb FOB, as assessed by ICIS.

This three-tiered April split was uncommon, with the highest settlement representing around 15% of the market, and the ICIS assessed range representing about 85% of the market.

A BD buyer said prices need to fall now to reduce the severity of the downside in the market and to avoid demand destruction.

Major US BD producers include ExxonMobil, LyondellBasell, Shell Chemical and TPC Group.

Major buyers include Ashland, Firestone Polymers, Invista, LANXESS, Michelin and Negromex.

($1 = €0.76)


By: John Dietrich
713-525-2600



AddThis Social Bookmark Button

For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.

Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.

Printer Friendly