02 August 2013 03:55 [Source: ICIS news]
SINGAPORE (ICIS)--Taiwan’s Formosa Petrochemical Corp (FPCC) has settled its July butadiene (BD) contract at $946/tonne (€719/tonne), down by $380/tonne from the previous month, a company source said on Friday.
Its June’s contract was settled at $1,326/tonne pipeline 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 26 July, BD spot prices averaged $945/tonne CFR (cost & freight) northeast (NE) Asia, compared with an average of $1,395/tonne CFR NE Asia on 7 June, ICIS data showed.
($1 = €0.76)
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