May US butadiene CPs nominated 2.5-4.5 cents/lb lower on month: sources

Houston — May US butadiene contract prices were heard nominated 2.5 cents to 4.5 cents lower Friday compared with April contract prices, sources said.

ExxonMobil was heard to be nominating 2.5 cents lower at 22 cents/lb, while LyondellBasell, Shell and TPC Group's nominations were heard to be 4.5 cents lower at 20 cents/lb. Producer confirmation was not available immediately Friday.

The declines would be in line with market expectations of a price decrease.

The nominations — if confirmed at settlement — would take domestic butadiene contract prices to 18-year lows. US butadiene contract prices were last lower than 22 cents/lb on May 31, 2002 when they were assessed at 20 cents/lb, according to S&P Global Platts data. Prices were last lower than 20 cents/lb on April 26, 2002 when they were assessed at 18 cents/lb, according to Platts data.

Spot US butadiene was assessed Friday at 13.75 cents/lb CIF USG.