31 May 2013 15:32 [Source: ICIS news]
LONDON (ICIS)--The European butadiene (BD) contract price for June has been agreed down by €90/tonne at €1,250/tonne ($1,623/tonne), reflecting softening supply and demand fundamentals, two major contract players said on Friday.
A decrease was widely expected in order to align the European market more closely with that of Asia and the US.
Global demand for BD’s key derivatives, notably that of synthetic rubber, has declined because of weak macroeconomic conditions.
The contract, which is settled on a free delivered (FD) northwest Europe (NWE) basis, has been confirmed by at least two major consumers and two major producers.
($1 = €0.77)
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