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Final March US butadiene contract nominations at rollover from Feb

The final March US butadiene contract nominations were for rollovers from February, sources said Wednesday.

LyondellBasell and TPC Group each nominated rollovers from February at 24 cents/lb ($529/mt), and Shell Chemicals nominated a rollover from February at 25 cents/lb ($551/mt), sources said. Confirmation from the producers on their nominations was not immediately available.

ExxonMobil nominated its March US butadiene contract at 31 cents/lb ($683/mt), up 2 cents/lb ($44/mt) from February, sources said Tuesday.

ExxonMobil did not immediately return a message seeking comment.

The nominations are void of any discounts or adders that producers might include, sources said.

Despite all four nominations being announced, sources said the contract was not settled as of yet, as there could still be a change.

Market expectations on the March contract were for flat to slightly higher, tracking stronger pricing in Asia, sources said.

US spot butadiene was last assessed Friday at 25 cents/lb CIF US Gulf Coast.

The February US butadiene contract price settled at a 24-29 cents/lb ($529-$639/mt) split, down 1-5 cents/lb from January, sources said.

TPC Group settled its contract price at 24 cents/lb, down 1 cent/lb from January; LyondellBasell settled its contract price at 24 cents/lb, down 5 cents/lb from January; Shell Chemicals settled its contract price at 25 cents/lb ($551/mt), down 4 cents/lb from January; and ExxonMobil settled its contract price at 29 cents/lb, down 5 cents/lb from January, sources said.

Confirmation from producers on the settlements was unavailable.

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