28 June 2013 15:28 [Source: ICIS news]
LONDON (ICIS)--The European July butadiene (BD) contract price has been agreed down by €250/tonne at €1,000/tonne ($1,299/tonne), several contract players said on Friday.
The contract, which is settled on a free delivered (FD) northwest Europe (NWE) basis, was confirmed by at least two major consumers and two major producers.
Sources explained that the decrease was necessary to ensure that European prices remained competitive.
One producer said it was recognised that Asian imports needed to be discouraged, and that Europe would have to go further than the 8 cent/lb ($176/tonne) drop nominated in the US.
($1 = €0.77)
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
Asian Chemical Connections