The European December butadiene contract price has fully settled at Eur925/mt FD NWE, down Eur150/mt from November, market sources said Friday.
A drop had been widely expected, as demand from export markets remains weak and both domestic and export spot prices have trended below contract prices throughout November.
On Thursday, FD NWE butadiene spot prices were assessed at Eur940/mt, while FOB Rotterdam export spot price levels were assessed at $800/mt.
The gap between the two spot prices pointed both to the logistical difficulties faced by European market sources in moving butadiene while Rhine water levels remain low and the lack of demand from export markets.
