25 January 2013 23:26 [Source: ICIS news]
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HOUSTON (ICIS)--The fourth and final US butadiene (BD) producer that participates in the monthly contract negotiation process has nominated a rollover for its February contract price, sources confirmed on Friday.
All four producers have now nominated rollovers. Contract price settlement is expected next week.
All four producers have now nominated rollovers.
Contract price settlement is expected next week.
A third US BD producer has nominated a rollover for its February contract price, sources confirmed late on Thursday.
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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