01 July 2013 06:24 [Source: ICIS news]
SINGAPORE (ICIS)--Taiwan’s Formosa Petrochemical Corp (FPCC) has settled its June butadiene (BD) contract at $1,326/tonne (€1,021/tonne), down by $84/tonne from the previous month, a company source said on Monday.
Its May contract’s final settlement was $1,410/tonne pipeline DEL (delivered), down from the initial settlement of $1,417/tonne DEL.
FPCC’s monthly BD contract price is settled on a retroactive basis and is roughly based on the average spot prices in that particular month.
On 28 June, BD spot prices were assessed at an average of $1,125/tonne CFR NE Asia, down by $270/tonne from 7 June, according to data from ICIS.
($1 = €0.77)
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