The July US butadiene contract price settled Wednesday down 17 cents ($374/mt) to a 90-98 cents/lb ($1,983-$2,159/mt) split settlement, several sources said.
TPC Group, Shell Chemical and LyondellBasell settled at 90 cents, while ExxonMobil settled at 98 cents, sources said.
Producer confirmation was not immediately available.
Spot butadiene demand remained weak, and inventories were ample, sources said, leading to the expected decrease in contract prices.
US spot butadiene was assessed at 82 cents/lb ($1,807/mt) CIF US Gulf Coast Friday. Butadiene has dropped 83 cents since hitting a peak of $1.65/lb ($3,636/mt) CIF USG on March 23, according to Platts data.
Spot butadiene was heard in a range from the low 80s cents/lb CIF USG to the low 90s cents/lb CIF USG Wednesday.
The June US butadiene contract price dropped 40 cents in a $1.07-$1.15/lb ($2,358-$2,534/mt) split settlement, with TPC Group, Shell Chemical and LyondellBasell at $1.07/lb, and ExxonMobil at $1.15/lb, sources said.
Producer confirmation for the June US butadiene contract price was unavailable.
