The March US butadiene contract reached a split settlement on Friday at 58-59 cents/lb, up from February's split settlement at 45-46 cents/lb, market participants said.
TPC Group was heard nominating its price 13 cents/lb higher than February's at 58 cents/lb, sources said.
LyondellBasell also nominated its price at 58 cents/lb, 12 cents/lb higher than February's, sources said.
Shell Chemicals and ExxonMobil both nominated their respective contracts at a 13-cent/lb increase, jumping to 59 cents/lb, sources confirmed.
The companies did not respond to requests for comment.
The nominated increases are right around the market expectations of double-digit price hikes, due to expected regional turnarounds, rising feedstocks costs, and a tight domestic supply situation, sources said.
US spot butadiene pricing saw a string of five consecutive price increases halted, as the marker held flat to end the week on February 23, according to S&P Global Platts data.
Spot butadiene on a CIF USG basis was assessed at 53.50-54.50 cents/lb ($1,179-$1,201/mt), unchanged over the week.
