24 August 2012 20:46 [Source: ICIS news]
HOUSTON (ICIS)--US butadiene (BD) spot prices were assessed down by 10 cents/lb ($220/tonne, €176/tonne) as market sources said on Friday that no activity took place in the past week and it would take a price drop for any deal to be made.
US spot prices moved to 80-85 cents/lb from the 90-95 cent/lb range they had been at since the first week of August. Prior to that, spot prices were at 95-100 cents/lb, where they had been since the end of June.
The 80-85 cent/lb spot range matches the lowest of the year, which was during the first three weeks of June.
Producers and buyers said that there is plenty of BD in the market and there appears to be no change in the foreseeable future.
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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