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)
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|
Asian Chemical Connections