27 February 2014 11:44 [Source: ICIS news]
LONDON (ICIS)--The European butadiene (BD) contract price for March has been agreed at €1,025/tonne, an increase of €80/tonne from February, a major producer said on Thursday.
An increase had been expected based on tight supply and demand fundamentals, which had seen spot domestic and export prices rise by 10.5% and 11.5% respectively.
The major producer said it had agreed with two of its customers. Confirmation is pending from one of them.
One other producer has also confirmed the 8.5% increase on the contract price, and a third consumer was also reported to be in the mix.
“It’s a reasonable increase,” a major producer said; “every producer was targeting over €1,000/tonne.”
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