28 January 2014 16:28 [Source: ICIS news]
LONDON (ICIS)--The European butadiene (BD) contract price for February has been settled up by €35/tonne to €945/tonne reflecting tighter supply and demand fundamentals, a major producer said on Tuesday.
“The direction was obvious, the magnitude less so,” a second producer said.
The €35/tonne increase is being seen by some market observers as a conservative move because of uncertainties regarding post Lunar New Year Asian demand, as well as regarding European cracker feedslates and operating rates.
Two producers and three consumers have confirmed settlement. Confirmation from a third producer is pending.The contract is settled on a free delivered (FD) northwest Europe (NWE) basis.
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