25 October 2012 20:52 [Source: ICIS news]
HOUSTON (ICIS)--Two US butadiene (BD) producers have nominated rollovers for the November butadiene contract price, market sources said on Thursday.
One nominated a rollover at 90 cents/lb ($1,984/tonne, €1,528/tonne), while the other nominated a rollover at 83 cents/lb.
In October, three of the four producers settled their contracts at 83 cents/lb. They account for about 82% of the ?xml:namespace>
Market sources said the rollover was a result of the weak market in which producers are primarily fulfilling contractual obligations.
The European BD monthly contract price for November settled down by 3.0%, reflecting soft market conditions both in Europe and in the other regions of the world.
Typically, nominations are offered for the US BD contract ahead of the beginning of the month, and then a settlement is reached.
North American BD producers include ExxonMobil, LyondellBasell, Shell and TPC Group.
North American buyers include Ashland, INVISTA, LANXESS, Michelin and Negromex.
($1 = €0.77)
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