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Updated to Q3 2017
Supply was a key issue throughout 2017 and constraints globally resulted in the significant increase in contract prices this year. The drop in imports because of overseas constraints left buyers more reliant on European producers. During the second quarter, there was also a two-month turnaround at LyondellBasell’s 125,000 tonne/year Botlek facility in the Netherlands, according to market sources and not officially confirmed by the producer. The reported turnaround coincided with an unplanned production problem for another European producer, tightening regional supply. Players in the spot market were most impacted, with talk that some downstream facilities in Turkey halted production because of this. This spilled over into the third quarter, with constraints continuing throughout the period.
Demand was high throughout the third quarter, with solid performances from the automotive and construction sectors. Because of the supply constraints in the market this magnified the level of demand, as players pursued every avenue for product.
Updated to Q3 2017
Two events in late summer this year put a crimp in US and European butanediol (BDO) supply. The first, which prompted Ashland’s force majeure declaration in July, stemmed from a plant fire in Germany that shutdown production at the company’s Marl site until late September and cost the company an estimated $10-15m. The second event, Hurricane Harvey, struck the Texas coast in late August and prompted two US BDO producers – LyondellBasell and Invista – to declare force majeure. Both producers have plants in the Houston, Texas area.
US butanediol (BDO) contract prices took a big jump in the third quarter, largely because of high BDO prices in Asia. Though there is little BDO imported to the US, buyers and sellers say Asian prices are a factor in negotiations. US BDO demand remained fairly strong throughout the quarter, and then events in late summer tightened supply to make demand even stronger. Supply shortages, from a fire at an Ashland plant in Germany and then Hurricane Harvey in the US, prompted big increases sought by producers separately on fourth quarter contracts.
ICIS provides pricing information, news and analysis for all major petrochemical and chemical markets, including Butanediol.
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ICIS price assessments are based on information gathered from a wide cross section of the market, comprising consumers, producers, traders and distributors. Confirmed deals, verified by both buyer and seller, provide the foundation of our price assessments, giving you a robust reference for your negotiations.
ICIS collects pricing data on a wide range of chemical, energy and fertilizer products, including Butanediol. Our extensive experience in price reporting means we can offer you access to historical data dating back more than 20 years for certain commodities.
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ICIS price assessments are based on information gathered from a wide cross-section of the market, comprising consumers, producers, traders and distributors from more than 250 reporters world-wide. Confirmed deals, verified by both buyer and seller, provide the foundation of our price assessments.
Our in-depth market knowledge drives our specialist focus, as we recognise the importance of individual market dynamics and not a one-size-fits-all approach.
Over 25 years of reporting on key chemicals markets, including Butanediol, has brought global recognition of our methodology as being unbiased, authoritative and rigorous in preserving our editorial integrity. Our global network of reporters in Houston, London, Singapore, Shanghai, Guangzhou, Mumbai, Perth and Moscow ensures unrivalled coverage of established and emerging markets.