25 January 2013 22:43 [Source: ICIS news]
HOUSTON (ICIS)--A third US butadiene (BD) producer has nominated a rollover for its February contract price, sources confirmed late on Thursday.
The fourth producer and final producer that participates in the US BD contract settlement process is expected to seek a rollover as well. That nomination is anticipated to be released on Monday.
The initial two nominations are seeking rollovers.
There has not been a lot of demand for material from the major BD consumer – the styrene butadiene rubber industry – and that has led to the lack of movement in prices.
The January contract price was 76 cents/lb ($1,675/tonne, €1,257/tonne) for a majority – more than 80% – of the US production capacity, with one producer’s contract price at 83 cents/lb.
The January contract price was a rollover from the December contract price.
The February European BD contract price settled at a rollover on Wednesday.
US producers of BD include ExxonMobil, LyondellBasell, Shell Chemical and TPC Group.
($1 = €0.75)
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