The March US butadiene contract price Friday settled up 8-13 cents/lb ($176-$287/mt) from February at a 68-78 cents/lb ($1,499-$1,720/mt) split settlement, sources said.
LyondellBasell, Shell Chemicals and TPC Group settled up 8 cents/lb to 68 cents/lb, while ExxonMobil settled 13 cents/lb higher from February at 78 cents/lb, sources said.
Producer confirmation on the settlement was unavailable.
Sources had been anticipating a 5-15 cents/lb increase in the March contract price.
Sources were concerned that if the US butadiene contract price rose too much, then Asian downstream styrene-butadiene rubber would be imported into the US, destroying domestic demand for SBR in the US.
US spot butadiene was last assessed February 21 at 78 cents/lb CIF US Gulf Coast, with sources talking pricing for March from the mid-70s cents/lb to low-80s cents/lb CIF USG level as supply has remained tight in the US.
US spot butadiene has risen 17 cents since being assessed at 61 cents/lb CIF USG on December 20.
The February US butadiene contract settled 5-8 cents/lb higher from January at a 60-65 cents/lb split, with ExxonMobil at 65 cents/lb, while TPC Group, LyondellBasell and Shell Chemical settled at 60 cents/lb, sources said.
Producer confirmation on the February settlement was unavailable.
Source: Platts.com
