03 December 2012 08:53 [Source: ICIS news]
SINGAPORE (ICIS)--South Korea’s Yeochun NCC (YNCC) has settled its November butadiene (BD) contract at $1,640/tonne (€1,263/tonne), down by $256/tonne from the previous month, a company source said on Monday.
In October, the contract price settlement was $1,896/tonne pipeline DEL (delivered).
YNCC's monthly contract price settlement is derived from the average spot BD values for that particular month.
On 30 November, BD spot prices fell to $1,450-1,490/tonne CFR (cost & freight) northeast (NE) Asia, down by $110-130/tonne from the previous week, according to ICIS data.
BD prices have been falling week-on-week in November because of oversupply amid weak demand.
($1 = €0.77)
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