23 April 2014 22:27 [Source: ICIS news]
HOUSTON (ICIS)--A second US butadiene (BD) producer has nominated a rollover for its May contract pricing, sources said on Wednesday.
One of the three producers that had settled its April contracts at 68 cents/lb ($1,499/tonne) nominated that price for its May settlements, buyers said.
Previously, the producer that had settled its April contracts at 78 cents/lb nominated a rollover for May, according to buyers.
Domestic supply remains tight, with TPC Group on force majeure and LyondellBasell on 80% allocation.
However, buyers said arbitrage opportunities for cheaper material from Asia should keep US BD contract prices from increasing.
Major US BD producers include ExxonMobil, LyondellBasell, Shell Chemical and TPC Group.
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