12 March 2013 03:11 [Source: ICIS news]
SINGAPORE (ICIS)--Bangkok Synthetics Co’s (BST) sales tender for a 2,500-tonne butadiene (BD) cargo for early April shipment drew little interest from the market following last week’s price plunge, a company source said on Tuesday.
The sales tender closed on 11 March.
“There were fewer bids compared with previous sales tenders,” the source from the Thai firm said.
Market players retreated to the sidelines as BD spot prices shed $190/tonne (€146/tonne) or 9% week on week to $1,860/tonne CFR (cost and freight) northeast (NE) Asia on 8 March, ICIS data showed.
BST's sales tender will be awarded on a contract pricing formula with a discount, industry sources said.
($1 = €0.77)
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