27 November 2012 16:41 [Source: ICIS news]
LONDON (ICIS)--An initial European butadiene (BD) contract settlement for December has been agreed at €1,440/tonne ($1,870/tonne), down by €40/tonne from November because of soft supply and demand fundamentals, a major producer said on Tuesday.
The contract was agreed by the producer and three of its buyers. Confirmation from two of the buyers is pending.
One consumer said: “[Everyone] had in mind working capital issues,” and therefore keeping some element of stability was key.
A second major producer has confirmed the agreement with a fourth consumer – confirmation from this buyer is also pending.
The contract is agreed on a free delivered (FD) northwest Europe (NWE) basis.
($1 = €0.77)
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