07 October 2012 11:15 [Source: ICIS news]
BUDAPEST (ICIS)--US butadiene (BD) contracts are likely to remain flat in the fourth quarter of 2012, a buyer said on Sunday – however, the source predicted that prices will rise again in 2013.
Most US BD contracts in October settled at 83 cents/lb ($1,830/tonne, €1,409/tonne), flat with September.
The outlook for 2013 points to higher prices, but not in the magnitude of the increase seen in the second quarter of 2012, when contracts climbed past $1.50/lb, the source said.
The monthly contract will rise in 2013, but not past $1.20/lb, the buyer said on the sidelines of the 46th annual European Petrochemical Association (EPCA) meeting in Budapest, Hungary.
The source cited a potential recovery in the Chinese economy in 2013 among the reasons for the expected increase in BD prices.
The annual EPCA meeting runs from 6-10 October.
($1 = €0.77)
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