February butadiene, benzene contracts settle in US
by ChemOrbis Editorial Team - content@chemorbis.com
According to market sources, February butadiene and benzene contracts have been settled with decreases in the US. February butadiene contracts were fully settled with a split settlement of 24-29 cents/lb ($529-639/ton), down 1-5 cents/lb ($22-110/ton) from January.
Market expectations had called for decreases of at least 1-2 cents/lb ($22-44/ton) for February due to weak demand and lower spot prices.
TPC Group and LyondellBasell settled their butadiene contracts at 24 cents/lb ($529/ton) while Shell Chemicals settled at 25 cents/lb ($551/ton) and ExxonMobil settled at 29 cents/lb ($639/ton).
Meanwhile, February benzene contract settlements were split at $1.84-1.85/gallon ($550-553/ton), down 27-28 cents/gallon ($80-83/ton) from January’s settlement. Exxon settled at $1.84/gallon ($550/ton) while Phillips 66 settled its contract at $1.85/gallon ($553/ton).
In the US, spot benzene prices are currently reported at around $1.83/gallon ($547/ton) FOB USG, down 3 cents/gallon ($9/ton) from a week earlier.
Market expectations had called for decreases of at least 1-2 cents/lb ($22-44/ton) for February due to weak demand and lower spot prices.
TPC Group and LyondellBasell settled their butadiene contracts at 24 cents/lb ($529/ton) while Shell Chemicals settled at 25 cents/lb ($551/ton) and ExxonMobil settled at 29 cents/lb ($639/ton).
Meanwhile, February benzene contract settlements were split at $1.84-1.85/gallon ($550-553/ton), down 27-28 cents/gallon ($80-83/ton) from January’s settlement. Exxon settled at $1.84/gallon ($550/ton) while Phillips 66 settled its contract at $1.85/gallon ($553/ton).
In the US, spot benzene prices are currently reported at around $1.83/gallon ($547/ton) FOB USG, down 3 cents/gallon ($9/ton) from a week earlier.
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