London — The industry-settled European butadiene contract price for March has fully settled at Eur880/mt FD NWE, an increase of Eur30/mt on the previous contract price, market sources said Friday.
The contract price increase was attributed to a rise in upstream naphtha prices during the month of February, as well as healthy demand in many downstream segments, despite relatively weak demand from the synthetic rubber market.
Additionally, one buyer said that the increase helped to keep the European market attractive to sellers, relative to export markets.
FD NWE spot prices were assessed Thursday at Eur865/mt, while FOB Rotterdam spot export prices were assessed at $950/mt.
— Luke Milner, [email protected]
— Edited by James Leech, [email protected]
Source: S&P Global Platts
