26 May 2012 00:11 [Source: ICIS news]
HOUSTON (ICIS)--A ?xml:namespace>
The 40 cent/lb decrease represents a 27% reduction from $1.47/lb, the price at which the two producers settled their contracts in May.
The two nominations undercut a 24% drop proposed by another supplier, which on Monday offered a 35 cent/lb reduction from its $1.45/lb settlement in May, putting its June contracts at $1.10/lb.
A fourth US suppliers, which settled at $1.55/lb in May, nominated an 18 cent/lb drop for June.
The reduction would put its contracts at $1.37/lb next month, but one source predicted the supplier may eventually lower its contract prices to $1.15-1.20/lb.
($1 = €0.80)
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