A second April US butadiene contract price nomination was 6 cents/lb ($132/mt) higher than the March contract price, sources said Monday.
The nomination was from LyondellBasell, which would put the company’s contract price at 30 cents/lb, sources said.
LyondellBasell declined to comment, citing company policy.
The nomination follows that of ExxonMobil, which nominated 8 cents/lb ($176/mt) higher than March’s contract price at 37 cents/lb, sources said.
ExxonMobil did not return a message seeking comment on the nomination.
The other two producers who nominate for contract prices — Shell Chemicals and TPC Group — had yet to announce nominations, sources said.
The nominations have been a bit of a surprise to many in the market, who had anticipated an increase of 3-5 cents/lb due to higher spot pricing during the month. Sources said US pricing was following Asia, where the price is starting to ease lower.
Spot US butadiene pricing was last assessed Thursday at 33 cents/lb CIF US Gulf Coast.
The March US butadiene contract price settled between 24 cents/lb and 29 cents/lb ($529-$639/mt), a rollover from February, sources said.
LyondellBasell and TPC Group each settled at 24 cents/lb; Shell Chemicals settled at 25 cents/lb ($551/mt); and ExxonMobil settled at 29 cents/lb, sources said.
Producer confirmation on the settlements was unavailable. The settlements were void of any discounts or adders that producers might include, sources said.
