The Northwest European contract price for March-delivered butadiene was fully settled Tuesday at Eur1,415/mt FD NWE ($1,880/mt FD), following confirmation from two producers and two consumers involved in the negotiations.
The increase represents a Eur50/mt rise from the February price of Eur1,365/mt FD NWE.
Two sellers, Total Petrochemicals and SABIC, said they agreed the price with their consumers, without saying whom, while consumers Lanxess and Michelin confirmed agreeing the price with their suppliers, without adding further details.
Other parties involved in the negotiations said that they would follow the figure upon confirmation from two sellers and two buyers.
The European butadiene market is expected to be tighter in March due to a number of supply constraints caused by maintenance and other unexpected production issues, sources said, adding that a recent rally in naphtha prices had also had a bullish effect.
Spot NWE butadiene was assessed at Eur1,280-1,290/mt FD NWE Monday.
