30 March 2014 00:56 [Source: ICIS news]
SAN ANTONIO, Texas (ICIS)--US spot butadiene (BD) prices remain steady in a short market, sources said on the sidelines of the International Petrochemical Conference (IPC) on Saturday.
One buyer reported that it would take material at the current ICIS range of 73-78 cents/lb ($1,609-1720/tonne).
However, the buyer added that it is not looking for incremental material and cannot find any as well.
Another buyer said spot prices are remaining steady because a recent spike in Asian BD has narrowed the arbitrage window.
The buyer said that with freight rates from Asia around $350/tonne for BD or feedstock crude C4, spot prices in Asia at a 20-25 cent/lb discount to US material are still viable, but bumping against losing their edge.
Additionally, the buyer said that demand is steady, and incremental buying is being done mostly to fulfill contract obligations.
Hosted by the American Fuel & Petrochemical Manufacturers (AFPM), the IPC runs through 1 April in San Antonio, Texas.
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