The second June US butadiene contract price nomination was 3 cents/lb ($66/mt) higher than May, sources said Wednesday.
The nomination was from LyondellBasell, which would put its contracts at 36 cents/lb, sources said.
LyondellBasell did not immediately return a message seeking comment on the nomination.
LyondellBasell’s nomination follows ExxonMobil’s June nomination of up 3 cents from May at 40 cents/lb, sources said Tuesday.
ExxonMobil declined comment on the nomination, citing company policy.
The nominations are void of any discounts or adders that producers might include, sources said.
The other two producers who nominate for contracts — Shell Chemicals and TPC Group — had yet to announce nominations, sources said.
Sources had anticipated a rollover to up a couple cents in June contracts from May based on tight supply in the market that has caused higher spot pricing. US spot butadiene was last assessed Friday at 40 cents/lb CIF US Gulf Coast.
The May US butadiene contract price settled up 2-3 cents/lb ($44-$66/mt) from April at a 31-37 cents/lb ($683-$816/mt) split settlement, sources said.
TPC Group settled up 2 cents at 31 cents/lb; Shell Chemicals and LyondellBasell each settled up 3 cents at 33 cents/lb; and ExxonMobil settled up 2 cents at 37 cents/lb, sources said.
Confirmation from producers on the settlements were unavailable. The settlements are void of any discounts or adders that producers might include, sources said.
