23 July 2012 22:11 [Source: ICIS news]
HOUSTON (ICIS)--A second US butadiene (BD) producer has nominated a rollover for August, market sources said on Monday, adding that a third producer has stepped out with a proposed 4 cent/lb ($88/tonne, €73/tonne) increase that would put its contracts at $1.00/lb next month.
Most US BD contracts settled 90 cents/lb in July, down by 16% from June, under settlements reached by three producers that account for more than 80% of the US capacity negotiated in the monthly contract.
The rollover for August was announced by two of those producers, while the 4 cent/lb increase was put forward by a supplier that has around 18% of US capacity.
That supplier settled its July contracts at 96 cents/lb.
One final US producer is expected to step out with its August nomination by the end of the week.
US BD contracts normally settle at the end of the month for the following month.
BD producers in North America include ExxonMobil, LyondellBasell, Shell and TPC Group. Buyers include Ashland, Invista, LANXESS, Michelin and Negromex.
($1 = €0.83)
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