ICIS providing singular US butadiene contract reference number

01 May 2017

01 May, 2017
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Starting this week, ICIS is offering a new monthly contract reference number in its US Butadiene/C4’s report in response to market calls for a direct average of contract nominations.

The ICIS US April FOB (free on board) USG (US Gulf) Contract Reference Price will be a single number based on the average of contract nominations by the four major US butadiene producers. Each of the producers’ numbers will be given equal weighting.

“In a recent methodology consultation with subscribers, a majority asked that we provide this new benchmark to reduce the volatility that is seen in weighted-average calculations,” said ICIS Americas Managing Editor Jeremy Pafford.

“Market participants are looking for an assessment with minimal surprises. This direct average approach does just that,” Pafford said. Market participants have complained that the weighted-average approach does not take into account operating rates and the availability of supply, leading to flawed reporting of the monthly contract price.

ICIS will also continue to publish in the US Butadiene/C4’s report an industry-range contract assessment based on the full range of like-based nominations, as well as spot butadiene and crude C4 prices on CIF (cost, insurance and freight) USG and FOB NWE (northwest Europe) bases.

For further information about this release, please contact:

Amy Holland
Senior Marketing Manager, ICIS
Email: amy.holland@icis.com
Direct: +1 (713) 525 2673

 

About ICIS

ICIS is the world’s largest petrochemical market information provider, with divisions spanning energy and fertilizers. Our aim is to give companies in global commodities markets a competitive advantage by delivering valuable information and analytics tools which enable our customers to identify and react to opportunities in markets which are constantly evolving. We have more than 30 years’ of experience in providing pricing intelligence and news, forecast data, market analytics and independent consulting to buyers, sellers and analysts.

With a global staff of more than 600, ICIS has employees based in London, Houston, New York, Singapore, Dubai, Shanghai, Guangzhou, Beijing, Mumbai, Tokyo, Karlsruhe, and Milan. ICIS’ team of journalists is engaged in reporting market prices and news, and ICIS is fully committed to upholding the highest journalistic principles of verification, corroboration and authentication. ICIS has a compliance framework that along with its methodologies and business processes adheres to the requirements of the IOSCO PRA Principles.

ICIS is a division of Reed Business Information, part of RELX Group.

 

About Reed Business Information

Reed Business Information (RBI) is a fast-growth provider of information and analytics, solving critical problems for businesses globally. Our strong global products and services hold leading positions across a wide range of industry sectors including finance, agriculture, petrochemicals and aviation where we help customers make key strategic decisions every day. RBI is part of RELX Group, a global provider of information and analytics for professional customers across industries. http://www.reedbusiness.com

 

About RELX Group

RELX Group is a global provider of information and analytics for professional and business customers across industries. The Group serves customers in more than 180 countries and has offices in about 40 countries. It employs approximately 30,000 people of whom almost half are in North America. RELX PLC is a London listed holding company which owns 52.9% of RELX Group. RELX NV is an Amsterdam listed holding company which owns 47.1% of RELX Group. The shares are traded on the London, Amsterdam and New York Stock Exchanges using the following ticker symbols: London: REL; Amsterdam: REN; New York: RELX and RENX. Total market capitalisation is approximately £33.1bn|€37.7bn|$44.3bn. www.relx.com

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