27 April 2012 12:01 [Source: ICIS news]
LONDON (ICIS)--The European butadiene (BD) May monthly contract price (MCP) has settled at €2,250/tonne ($2,961/tonne), down by €25/tonne from April to reflect soft demand, a major consumer said on Friday.
“It’s a compromise,” the major consumer said; “everyone has confirmed that demand is on the downside.”
The consumer added that it was too early to determine whether the recent price decline would be sustained through May.
The contract is settled on a free delivered (FD) northwest Europe (NWE) basis.
Four major producers and three major consumers have agreed the May MCP. So far, two major producers and two major consumers have directly confirmed the settlement.
($1 = €0.76)
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