02 January 2014 21:00 [Source: ICIS news]
HOUSTON (ICIS)--US January butadiene (BD) contracts reached a full settlement up by nearly 2% from December, sources said on Thursday.
The 1 cent/lb ($22/tonne, €16/tonne) increase puts three US producers at 55 cents/lb for January and a fourth at 57 cents/lb.
Given the split settlement, this puts the weighted January BD contract at 55.36 cents/lb, up from the December average of 54.36 cents/lb.
Sources said BD spot prices had trended up slightly in December on tight supply and buying interest from Asia.
Additionally, the start of 2014 is expected to lead to some inventory restocking for domestic buyers.
Major US BD producers include ExxonMobil, LyondellBasell, Shell Chemical and TPC Group.
($1 = €0.73)
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