12 September 2012 09:39 [Source: ICIS news]
SINGAPORE (ICIS)--Asian butadiene (BD) producers have settled their August contracts at sharply lower prices compared with July numbers because of weak demand, market sources said on Wednesday.
South Korean major Yeochun NCC (YNCC) settled its August BD contract price at $1,995/tonne (€1,556/tonne) pipeline delivered, down by $457/tonne from its July settlement.
Taiwanese Formosa Petrochemical Corp, on the other hand, settled its August price at $1,949/tonne delivered, down by $283/tonne from July levels.
The lower August BD contracts were in line with price declines in the spot market over the past month.
Spot BD prices tumbled to $1,875/tonne CFR (cost and freight) NE Asia in the second half of August, down by about 23% from a month ago, according to ICIS data.
BD is a liquid chemical used to make synthetic rubbers like styrene-butadiene-rubber (SBR), butadiene rubber (BR) and nitrile-butadiene rubber (NBR) as well as plastic resins like acrylonitrile-butadiene-styrene (ABS) and high impact polystyrene (HIPS).
($1 = €0.78)
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