08 February 2013 02:57 [Source: ICIS news]
SINGAPORE (ICIS)--Thailand’s Bangkok Synthetics (BST) has awarded its sales tender for a 2,000-2,500-tonne butadiene (BD) cargo for shipment in early March, on a formula basis, a company source said on Friday.
The tender, which was issued on 7 February, attracted 10 bids in the range of $1,800-1,900/tonne FOB (free on board) Map Ta Phut, the source said.
The Thai producer, however, decided to award the tender on a formula basis on expectations that the cargo can fetch higher prices than the submitted bids, industry sources said.
Spot BD offers for early March shipments have increased to $2,000-2,100/tonne (€1,500-1,575/tonne) CFR (cost and freight) northeast (NE) Asia this week, as producers expect Chinese buying interest to gain momentum after the Lunar New Year holiday.
China will be on holiday on 9-15 February.
In the week ended 1 February, BD spot prices averaged $1,880/tonne CFR NE Asia, according to ICIS data.
($1 = €0.75)
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