30 July 2013 17:31 [Source: ICIS news]
(BD now fully confirmed)
LONDON (ICIS)--The European August butadiene (BD) contract price is now fully confirmed at €750/tonne ($1,000/tonne), down by €250/tonne because of poor global demand, contract players said on Tuesday.
The contract, which is settled on a free delivered (FD) northwest Europe (NWE) basis, has been confirmed by two major producers and two major consumers.
Sources said the 25% month-on-month decrease had been necessary to ensure that European prices remained competitive, and especially so following the recent August contract price nominations in the US.
European BD contract prices have slipped by €615/tonne, or 45%, since the beginning of the year.
($1 = €0.75)
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