30 April 2013 23:13 [Source: ICIS news]
HOUSTON (ICIS)--North American butanediol (BDO) contract negotiations for the second quarter have settled at a slight discount from Q1 levels after lengthy discussions, sources said during the week that ended on 30 April.
Although a large number of contract negotiations settled a rollover, there were others that closed at various discounts from Q1 values.
ICIS assessed Q2 negotiations at a 1.5 cents/lb ($33/tonne, €25/tonne) discount off Q1 levels. This put Q2 BDO range at 126.5-141.5 cents/lb.
The discounts ranged from 3 cents/lb to flat, for BDO. Downstream, participants in the tetrahydrofuran (THF) sector saw prices flat to a small premium, but no decline, sources said.
A tight supply situation has helped to keep values from falling further, sources said.
The LyondellBasell plant in the US is still down while completing a maintenance turnaround that will extend 7-10 days into May.
The plant went down at the end of March in what was anticipated to be a 45-day programmed outage.
Units upstream of BDO were stopped by the maintenance works, forcing BDO production to stop.
LyondellBasell has been supplying its customers from inventories, a company source said.
The main US BDO producers are BASF, Ashland, LyondellBasell and Invista.
($1 = €0.76)
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