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January butadiene, benzene contracts settle in US

by ChemOrbis Editorial Team -
  • 05/01/2016 (12:15)
According to market sources, January butadiene and benzene contracts have been settled in the US, both down from their December levels. January butadiene contracts were settled with a split settlement of 25-34 cents/lb ($551-750/ton), down 2 cents/lb ($44/ton) from December. TPC Group settled its contract at 25 cents/lb ($551/ton) while Shell Chemicals and LyondellBasell both settled at 29 cents/lb ($639/ton) and ExxonMobil settled at 34 cents/lb ($750/ton).

Market expectations had called for decreases of at least 1 cent/lb ($22/ton) for January butadiene contracts due to weak demand and lower spot prices.

Meanwhile, January benzene contracts were fully settled with a decrease of 17 cents/gallon ($51/ton) from December at $2.12/gallon ($634/ton) by both Exxon and Phillips 66. In the US, spot benzene prices are reportedly unchanged on the week to be currently quoted at around $2.11/gallon ($631/ton) FOB USG.
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