18 April 2014 22:11 [Source: ICIS news]
HOUSTON (ICIS)--US butadiene (BD) spot prices were assessed on Friday at an increase on the back of done deals, as well as higher price indications amid tight supply.
The ICIS-assessed price for BD was 77-81 cents/lb ($1,698-1,786/tonne), up from 73-78 cents/lb in the previous week.
Market sources said rising prices for BD were more an indication of tight supply rather than high demand.
US producer TPC Group had declared force majeure around 4 April because of production issues at one of its facilities in Texas, and LyondellBasell remained on 80% allocation out of its Channelview BD unit in Texas, market sources said.
Nominations for May BD contract prices are expected to be announced next week.
Major US BD producers include ExxonMobil, LyondellBasell, Shell Chemical and TPC Group.
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