(updates with additional market commentary)
LONDON (ICIS)--The European December butadiene (BD) monthly contract price has been agreed at €900/tonne ($1,216/tonne), a rollover from November, a major producer said on Thursday.
Sources said the rollover had not been a big surprise amidst a bottoming out of prices in Asia – a key outlet for European tonnes – and potential constraints on BD output if crackers reduce operating rates further, while demand for main derivative styrene butadiene rubber (SBR) is seasonally slow.
The contract, which is done on a free delivered (FD) northwest (NWE) basis, was agreed by the major producer with three of its consumers. Another two producers have also agreed at €900/tonne.
Confirmation from one of the consumers is pending.
($1 = €0.74)
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