S Korea’s YNCC June BD contract falls by $252/tonne
05 July 2012 03:20 [Source: ICIS news]
?xml:namespace>SINGAPORE (ICIS)--South Korea’s Yeochun NCC (YNCC) has settled its June butadiene (BD) contract at $2,028/tonne (€1,622/tonne), down by $252/tonne from the previous month, a company source said on Thursday.
In May, the contract price settlement was $2,280/tonne pipeline DEL (delivered).
YNCC's monthly contract price settlement is based on the average spot BD values for that particular month.
BD spot prices bottomed out in mid-June at $1,800/tonne CFR (cost and freight) northeast (NE) Asia before rebounding and surging to $2,300/tonne CFR NE Asia in the week ended 29 June, ICIS data showed.
The BD price spike was triggered by a power outage on 20 June at Taiwan’s Formosa Petrochemical Corp’s (FPCC’s) petrochemical complex at Mailiao, which disrupted BD supply at the same time that Chinese buying interest was gaining momentum, industry sources said.
($1 = €0.80)Author: Helen Yan
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