07 December 2012 02:48 [Source: ICIS news]
SINGAPORE (ICIS)--Taiwan’s Formosa Petrochemical Corp (FPCC) has settled its November butadiene (BD) contract at $1,617/tonne (€1,245/tonne), down by $151/tonne compared with the previous month, a company source said on Friday.
The producer’s October BD contract price was settled at $1,768/tonne, pipeline delivered.
Spot prices of BD fell in November because of oversupply and weak demand in the market.
BD spot prices were at $1,450-1,490/tonne CFR (cost & freight) northeast (NE) Asia in the week ended 30 November, down by around $250/tonne since early November, according to ICIS data.
FPCC’s monthly BD contract price is settled on a retroactive basis.
($1 = €0.77)
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