The third May US butadiene contract price nomination was 3 cents/lb ($66/mt) higher than April, sources said Tuesday.
The nomination was from Shell Chemicals, which would put its contracts at 33 cents/lb, sources said.
Shell did not immediately return a message seeking comment.
Shell’s nomination follows ExxonMobil’s May nomination of up 2 cents/lb from April at 37 cents/lb, and LyondellBasell’s May nomination of up 3 cents/lb from April to 33 cents/lb, sources said.
ExxonMobil declined to comment on the nomination, citing company policy, and LyondellBasell did not return a message seeking comment.
The nominations are void of any discounts or adders that producers might include, sources said.
The other producer who nominates for contracts, TPC Group, had yet to nominate, sources said.
Sources had anticipated an increase of 2-4 cents/lb in May contracts from April based on tight supply in the market that has caused higher spot pricing. US spot butadiene was last assessed Friday at 36 cents/lb CIF US Gulf Coast.
The April US butadiene contract price settled at a 29-35 cents/lb ($639-$772/mt) split settlement, up 5-6 cents/lb ($110-$132/mt) from March, sources said.
TPC Group settled at 29 cents/lb, up 5 cents/lb; Shell Chemicals settled at 30 cents/lb, also up 5 cents/lb; LyondellBasell settled at 30 cents/lb, up 6 cents/lb; and ExxonMobil settled at 35 cents/lb, up 6 cents/lb, sources said.
Producer confirmation on the settlements was unavailable.
The settlements are void of any discounts or adders that producers might include, sources said.
