23 August 2012 17:27 [Source: ICIS news]
HOUSTON (ICIS)--Two September butadiene (BD) contract nominations have been offered, with both showing decreases from August, sources said on Thursday.
One BD producer has offered a 7-cent/lb ($154/tonne, €123/tonne) reduction to 83 cents/lb, while the other has presented a reduction of 6 cents/lb to 90 cents/lb, sources confirmed.
There are two other producers that have not offered their nominations, sources said.
Demand for BD in the US has been limited to fulfilling contractual obligations, with basically no spot market activity taking place for several weeks.
The August BD contract settled flat from July with three producers at 90 cents/lb and a fourth at 96 cents/lb.
Sources said they do not anticipate the other two producers to offer their nominations until next week.
US BD contracts normally settle at the end of the month for the following month’s business.
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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