First nomination for US Nov BD contracts at 5 cent/lb decline

Source: ICIS News


small tyreHOUSTON (ICIS)--The first nomination for US November butadiene (BD) contracts was at a drop of 5 cents/lb ($110/tonne), sources said on Wednesday.

October US BD contracts fully settled at 52 cents/lb, so if accepted, this nomination would move prices to 47 cents/lb.

The nomination comes from a producer that had nominated an October price of 57 cents/lb initially, before revising its nomination to 52 cents/lb.

Sources said the nomination was in line with market expectations, given plunging values in Asia and softening demand in the US.

Major US BD producers include ExxonMobil, LyondellBasell, Shell Chemical and TPC Group.