27 September 2012 21:32 [Source: ICIS news]
(Recasts with paragraph 2)
HOUSTON (ICIS)--The third of four October butadiene (BD) contract nominations has been announced at a rollover, sources confirmed on Thursday.
Market sources believe the rollover nominations are being made because demand is flat to decreasing.The producer offered a nomination of 83 cents/lb ($1,830/tonne, €1,427/tonne).
Earlier, another producer nominated an October contract price of 85 cents/lb, up 2 cents/lb from its September contract price.
A third producer nominated a rollover from its September contract price of 90 cents/lb.
A fourth nomination is anticipated later this week.
Typically, nominations are offered for the BD contract ahead of the beginning of the month and then a settlement is reached.
North American producers of BD include ExxonMobil, LyondellBasell, Shell and TPC Group.
North American buyers include Ashland, INVISTA, LANXESS, Michelin and Negromex.
($1 = €0.78)
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