Home > Chemical News

Chemical News

Shell nominates October US butadiene CP up 2 cents to 46 cents/lb: sources

https://www.chemnet.com   Sep 30,2013 Platts
Shell Chemical was heard nominating its October US butadiene contract price up 2 cents/lb ($44/mt) to 46 cents/lb ($1,014/mt), sources said Friday.

Shell Chemical was unavailable to immediately confirm the nomination.

Market expectations have been for a slightly higher October US butadiene contract due to a rise in US spot butadiene prices in September.

US spot butadiene was last assessed September 20 at 50 cents/lb CIF USG, with spot prices heard in the low 50s cents/lb CIF USG Friday. US spot butadiene prices have risen 3 cents since the end of August and 11 cents since hitting a four-year low July 19 at 39 cents/lb CIF USG, according to Platts data.

Sources said the rise in US spot prices has been due to the US tracking higher pricing in Europe and Asia.

Demand in the US has remained weak, while supply has been tightening, sources said.

ExxonMobil was heard nominating its October US butadiene contract price up 2 cents to 49 cents/lb, while LyondellBasell was heard nominating its October US butadiene contract up 6 cents to 50 cents/lb, sources said. Producer confirmation on the nominations was unavailable.

The other US butadiene producer, TPC Group, had yet to nominate for October, sources said.

The September US butadiene contract price settled at a rollover from August at 40-47 cents/lb, sources said. TPC Group settled at a rollover at 40 cents/lb, ExxonMobil settled at a rollover at 47 cents/lb, Shell Chemical settled 4 cents higher at 44 cents/lb, and LyondellBasell settled 2 cents lower at 44 cents/lb, sources said.

Producer confirmation on the September settlement was unavailable.
 Print  |    add to Favorites  |    Close