ExxonMobil has reduced by 2 cents/lb ($44/mt) its initial October US butadiene contract nomination to 60 cents/lb ($1,323/mt), sources said Friday.
The revision was 2 cents below the company's initial nomination of a rollover from September at 62 cents/lb, sources said.
ExxonMobil could not be reached for confirmation.
Shell Chemicals and LyondellBasell each nominated October US butadiene contracts at a rollover from September at 56 cents/lb ($1,235/mt), while TPC Group nominated its October US butadiene contract down 2 cents/lb ($44/mt) from September at 54 cents/lb ($1,190/mt), sources said Wednesday.
Producer confirmation on the nominations could not be obtained immediately.
The nominations exclude any discounts or adders that producers might add, sources said.
Despite having all nominations from producers, sources said the contract continues to be unsettled and there could be further movements.
Expectations for October contracts had ranged from unchanged from September to down 2-3 cents.
US spot butadiene was last assessed September 19 at 55 cents/lb CIF USG, with notional talk in the market heard in the low- to mid-50s cents/lb. The domestic market also has been heard in the low- to mid-50s cents/lb delivered.
The September US butadiene contract settled 4 cents/lb lower than August at a 56-62 cents/lb split settlement, with LyondellBasell, Shell Chemicals and TPC Group at 56 cents/lb and ExxonMobil at 62 cents/lb, sources said. The settlements excluded any discounts or adders, sources said.
