25 June 2012 22:14 [Source: ICIS news]
HOUSTON (ICIS)--A butadiene (BD) producer nominated an 8% drop for its July contracts, market sources said on Monday.
The producer nominated a 9-cent/lb ($198/tonne, €158/tonne) reduction for July, cutting its prices to 98 cents/lb next month, market sources said.
The same producer settled its contracts at $1.07/lb in June.
Earlier, another BD producer nominated a 10% drop for its July contracts.
That producer nominated a 12 cent/lb reduction for July, cutting its prices to $1.03/lb next month, market sources said.
The same producer settled its contracts at $1.15/lb in June.
US BD contracts normally settle at the end of the month for the following month.
The drop in July will be the third in as many months.
BD producers in North America include ExxonMobil, LyondellBasell, Shell and TPC Group. Buyers include Ashland, Invista, LANXESS, Michelin and Negromex.
($1 = €0.80)
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