30 May 2013 21:40 [Source: ICIS news]
HOUSTON (ICIS)--The June US butadiene (BD) contract among the three producers that account for about 85% of the market is seen settling at 74 cents/lb ($1,631/tonne, €1,256/tonne), down 5 cents/lb, sources said on Thursday.
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The third producer has not nominated a June contract price, sources said.
Market participants said a fourth producer, which makes up about 15% of the US BD market, has nominated a June contract price of 79 cents/lb, down from 85 cents/lb in May.
US BD from the three biggest producers traded at 76 cents/lb from December 2012 through February 2013. In March, the monthly contract price rose to 84 cents/lb and then rolled over for April.
But faced with persistently weak worldwide demand for replacement tyres and less expensive styrene-butadiene-rubber (SBR) that was being imported from Asia to the
Under continued pressure from both BD consumers and SBR makers over the past few weeks, it was expected that the June BD contract price would fall by another 5 cents/lb.
($1 = €0.77)
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