US butadiene producer LyondellBasell announced a nominated increase of 15 cents/lb to 160 cents/lb for April contracts, sources said Monday.
This nomination is the second to be announced for April contracts -- the first was announced last Thursday by ExxonMobil for an increase of 10 cents/lb to 165 cents/lb.
The lower nomination by LyondellBasell was within expectations, according to a source who mentioned that the company sometimes includes an adder to its contracts, estimated at an additional 5 cents/lb for March.
LyondellBasell was contacted but not immediately available for comment.
Nominations were not yet heard by TPC Group and Shell Chemical by time of publication.
The previous contract price for March was settled in a split of 145-155 cents/lb, with ExxonMobil settling at 155 cents/lb and the remaining producers settling at 145 cents/lb.
