ExxonMobil was heard nominating its September US butadiene contract price at a rollover from August at 47 cents/lb ($1,036/mt), sources said Monday.
ExxonMobil spokeswoman Margaret Ross declined comment on the nomination as it is ExxonMobil’s practice not to comment on prices.
Market expectations have been for a rollover to slightly higher September US butadiene contract price due to a recent rise in US spot butadiene prices.
US spot butadiene was last assessed at 44 cents/lb CIF US Gulf Coast Friday.
Demand has continued to be characterized as weak in the market, while supply has been heard tighter.
The other three producers — LyondellBasell, Shell Chemical and TPC Group — had yet to nominate for September contracts, sources said.
The August US butadiene contract price settled 26 cents lower than July at a 40-47 cents/lb split settlement, with Shell Chemical and TPC Group at 40 cents/lb, LyondellBasell at 46 cents/lb and ExxonMobil at 47 cents/lb, sources said.
Producer confirmation on the August settlement was unavailable.
Source: platts.com
